COVID-19: Retrenchments

[Victor68]

On 11/19/2022 at 8:03 PM, Throttle2 said:

I wish to be retrenched in 2028.

If one is near his retirement age, retrenchment is a good thing because you get paid out for leaving. However, if you are at your prime and having a great job, your next may not be the same depending on market and your expertises demand. 24 months is just 2 years salary without bonuses and benefits hor

[Throttle2]

7 minutes ago, Victor68 said:

If one is near his retirement age, retrenchment is a good thing because you get paid out for leaving. However, if you are at your prime and having a great job, your next may not be the same depending on market and your expertises demand. 24 months is just 2 years salary without bonuses and benefits hor

Yalor

so in 2028, i want to retire so hope to be retrenched.  Get money to retire is the best.  Shiok.

 

[Victor68]

1 hour ago, Throttle2 said:

Yalor

so in 2028, i want to retire so hope to be retrenched.  Get money to retire is the best.  Shiok.

 

I was looking forward after serving more than 2 decades but was laid off or restructuring instead before I got chance to retired. Therefore company save on retrenchment benefits. Then that laid off was a blessing in disguise that spur me to a new career path. So nothing is ultimate. 😆

[Throttle2]

39 minutes ago, Victor68 said:

I was looking forward after serving more than 2 decades but was laid off or restructuring instead before I got chance to retired. Therefore company save on retrenchment benefits. Then that laid off was a blessing in disguise that spur me to a new career path. So nothing is ultimate. 😆

Good for you

[Rickster]

On 11/16/2022 at 2:02 PM, Victor68 said:

If you are the CEO of a MNC, would you be doing something to show that you also have reviewed in this difficult time to cut costs? It is going to happen but unfortunately, not all the cuts are the fats. 

Yes, that's a sad fact of life. Especially for MNCs, sometimes cut happens by shutting entire departments because the top management change strategy/direction and nothing to do with capabilities and what not.

[Rickster]

On 11/18/2022 at 10:55 PM, Scion said:

another one...

 

Not surprising. In fact, I think this is just the beginning. Many tech companies that rose up fast and furious, especially those that are running on significant investments are those that might be looking to prioritise profitability over growth. Tanks to high interest rates for drying up funds.

[Scion]

Quote

https://www.businesstimes.com.sg/startups-tech/startups/rocket-internet-backed-flash-coffee-lays-staff-across-markets

22 November 2022

Rocket Internet-backed Flash Coffee lays off staff across markets

FLASH Coffee, a coffee chain headquartered in Singapore and backed by venture capital, has become the latest startup to lay off staff amid a weakening economy. Retrenchments were made regionwide, including in Singapore and Indonesia, going by the LinkedIn posts of some former employees.

 

hmm... never try this kopi chain before

[Mkl22]

10 minutes ago, Scion said:

 

hmm... never try this kopi chain before

Never even heard of it! Haha

[Throttle2]

All the vultures jump on the bandwagon in the name of tech or digital and get funding so they have to spend to show expension even when there really is nothing but burning cash.  There was too much cash to burn and so cheap to burn.

today a bit different. Hope rates climb to 5% soon.

[Victor68]

9 hours ago, Throttle2 said:

All the vultures jump on the bandwagon in the name of tech or digital and get funding so they have to spend to show expension even when there really is nothing but burning cash.  There was too much cash to burn and so cheap to burn.

today a bit different. Hope rates climb to 5% soon.

That will cost lives hor. Many have overstretched and have not enough time to flip over. It will also cause chain reactions. Both ways, the rich get richer. 

[Throttle2]

15 minutes ago, Victor68 said:

That will cost lives hor. Many have overstretched and have not enough time to flip over. It will also cause chain reactions. Both ways, the rich get richer. 

When you make mistakes, you pay for your mistakes.  Its only fair.   Rich or poor doesnt matter.

 

Edited November 23, 2022 by Throttle2

[Ender]

18 hours ago, Scion said:

 

hmm... never try this kopi chain before

Sell Kopi is also call Tech Startup?

[mersaylee]

49 minutes ago, Ender said:

Sell Kopi is also call Tech Startup?

If payment only by digital dollah and the barista is single arm and made of metal...yessi 😁

[Throttle2]

49 minutes ago, Ender said:

Sell Kopi is also call Tech Startup?

Position as tech startup then can get millions in funding mah.

rinse repeat a few cycles, multi millionaire already.  Where got like us, work 20++ years to become multi millionaires.   Too slow. 

[Scion]

3 hours ago, Ender said:

Sell Kopi is also call Tech Startup?

 

haha last time WeWork also call itself tech company when it's really just providing co-sharing spaces 🤣

[Victor68]

12 hours ago, Scion said:

 

haha last time WeWork also call itself tech company when it's really just providing co-sharing spaces 🤣

Sustainability, CSR, etc are commonly used today while we bomb and damage natural gas lines. Leaders flew in private jets to talk about climate change and wore thick jackets in fully air-conditioned room and 5-star lunch/dinner. Commers are ask to reduce energy usage. That is how it works. 

[Wt_know]

10% only … smelly smelly can chop 30% la … hehe

on behalf of MCF ex-jobless Chairman welcome to the Brotherhood 

[Scion]

need to change the title to 2022/23 Retrenchments liao

anyway really heard several layoffs recently, some friends got affected

some were reported in the news, most not reported