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Retrenchments up in Q1 2019


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Supersonic

Last time I got a colleague in a mid level management role. Damn sharp, smart fella, ivy league. Works 8 to 5 sharp, not a minute more. And every task he did is like he pull handbrake one. Did just enough. So he got skipped over promotion after promotion when he got so much potential.

After a company re-org, many of the achievers (VP and above) were asked to leave as new guys were parachuted in. Our friend was happily untouched. I asked him why he didn't try harder. He said after 5pm is his family and hobby time (he does Forex on the side and sharpen his techniques). He said you get promoted, more responsibility and stress, but the money is not life changing. At most it's HDB to condo. Why sacrifice freedom for something so small. He'll reconsider if its an upgrade from car to private jet.

 

Then what for study ivy league? 

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Turbocharged

Then what for study ivy league?

May be he went with the flow and had an epiphany halfway through.

 

Also, who knows maybe we'll read about his forex app someday. Easy to get his alumnis to chip in for funding.

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Turbocharged

Last time I got a colleague in a mid level management role. Damn sharp, smart fella, ivy league. Works 8 to 5 sharp, not a minute more. And every task he did is like he pull handbrake one. Did just enough. So he got skipped over promotion after promotion when he got so much potential.

After a company re-org, many of the achievers (VP and above) were asked to leave as new guys were parachuted in. Our friend was happily untouched. I asked him why he didn't try harder. He said after 5pm is his family and hobby time (he does Forex on the side and sharpen his techniques). He said you get promoted, more responsibility and stress, but the money is not life changing. At most it's HDB to condo. Why sacrifice freedom for something so small. He'll reconsider if its an upgrade from car to private jet.

 

well done!

 

For me same thinking. They moved me from previous post by promoting me to a deeper shit.. $1k increment but SAI got lot more.

 

So i choose to demote myself after 4 months.. job grade drop but pay remain. I don need a title to gain respect.

 

Not say happy now as it seem a hole to another.. anyway which hole not smelly? as long as it provide for me n family.

 

And yes i don work OT unless necessary.. i don work for pple to see.. i work to fulfill my OWN responsibilty tiah

 

no matter how we do/work sure got Small People around. Worse is those boss got SUPER light ears only choose to believe small people.

 

As one my colleague said.. at the end if we die overwork, the company just present a wreath.. those balls lickers won't even bother to attend your wake.  

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Last time I got a colleague in a mid level management role. Damn sharp, smart fella, ivy league. Works 8 to 5 sharp, not a minute more. And every task he did is like he pull handbrake one. Did just enough. So he got skipped over promotion after promotion when he got so much potential.

After a company re-org, many of the achievers (VP and above) were asked to leave as new guys were parachuted in. Our friend was happily untouched. I asked him why he didn't try harder. He said after 5pm is his family and hobby time (he does Forex on the side and sharpen his techniques). He said you get promoted, more responsibility and stress, but the money is not life changing. At most it's HDB to condo. Why sacrifice freedom for something so small. He'll reconsider if its an upgrade from car to private jet.

When younger, I had similar thoughts and asked my mentor if I could remain at my level. Not going for promotion or climb ladder. Just do my job properly. He told me can but imagine if you are doing the same type or level of work and role at 50 as you are at 30, do you stand a chance if there is a retrenchment? I would be more expensive than a 30 year old (due to small annual increments) and will a new employer rather hire you or a 30 year old?

So just go with the flow, take as much money as you can, save up and prepare when it comes. No one can really control it.

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Supersonic

well done!

 

For me same thinking. They moved me from previous post by promoting me to a deeper shit.. $1k increment but SAI got lot more.

 

So i choose to demote myself after 4 months.. job grade drop but pay remain. I don need a title to gain respect.

 

Not say happy now as it seem a hole to another.. anyway which hole not smelly? as long as it provide for me n family.

 

And yes i don work OT unless necessary.. i don work for pple to see.. i work to fulfill my OWN responsibilty tiah

 

no matter how we do/work sure got Small People around. Worse is those boss got SUPER light ears only choose to believe small people.

 

As one my colleague said.. at the end if we die overwork, the company just present a wreath.. those balls lickers won't even bother to attend your wake.  

 

Care to share how you managed to demote yourself?

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Peter's principle:

 

'you are promoted to your highest level of incompetence'

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Twincharged
(edited)

https://www.channelnewsasia.com/news/business/deutsche-bank-lay-off-staff-overhaul-11702682

 

"We need to focus our bank on where we are most competitive ... (and) provide our strong businesses the oxygen to prosper while withdrawing it from others," Deutsche Bank chief executive Christian Sewing told reporters on Monday.

"We need to do more than merely trim the perimeter like in the past," he said, before visiting the bank's London offices where redundancy packages were being handed out.

Analysts said it was high time for Deutsche Bank to stop its decades-long drive to emulate the investment titans of Wall Street.

 

 

 

 

***** and in other news...

 

Your immediate boss maybe earning upto 77% more than u

 

SINGAPORE had the fourth-biggest increase in the average pay gap between lower-level employees and senior managers in the Asia-Pacific region, according to data from management consultant firm Korn Ferry. 

The country saw a 12.1 per cent rise in the pay gap from 2008 to 2017, but this was lower than the average increase of 15.5 per cent across the Asia-Pacific, the study noted.

In the region, moderate increases in pay gap were seen in eight out of nine countries studied. These are China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Singapore and Thailand.

India saw the biggest jump,with the pay gap widening by 66 per cent, followed by Malaysia at 14.7 per cent and Indonesia at 12.7 per cent.

Edited by Sdf4786k
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Turbocharged

 

 

 

 

***** and in other news...

 

Your immediate boss maybe earning upto 77% more than u

 

SINGAPORE had the fourth-biggest increase in the average pay gap between lower-level employees and senior managers in the Asia-Pacific region, according to data from management consultant firm Korn Ferry. 

The country saw a 12.1 per cent rise in the pay gap from 2008 to 2017, but this was lower than the average increase of 15.5 per cent across the Asia-Pacific, the study noted.

In the region, moderate increases in pay gap were seen in eight out of nine countries studied. These are China, Hong Kong, India, Indonesia, Japan, Korea, Malaysia, Singapore and Thailand.

India saw the biggest jump,with the pay gap widening by 66 per cent, followed by Malaysia at 14.7 per cent and Indonesia at 12.7 per cent.

 

with automation.. more lower level jobs will be replaced by robots/automation.

 

These saving eventually where it goes? the Top Tier loh..

 

Let say those automatic driven buses/lorry/trucks do come true in near future.. how many jobs it going to replace/displace? let's assume our standard solution is to provide training to them to get redeployment.. honestly where to find jobs for them? If Grab/Gojek oso self driven... gg liao 

 

Some even debate to introduce an Automation tax where the saving will then pass to these people who got replaced.. don't think it work..

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Supersonic

well done!

 

For me same thinking. They moved me from previous post by promoting me to a deeper shit.. $1k increment but SAI got lot more.

 

So i choose to demote myself after 4 months.. job grade drop but pay remain. I don need a title to gain respect.

 

Not say happy now as it seem a hole to another.. anyway which hole not smelly? as long as it provide for me n family.

 

And yes i don work OT unless necessary.. i don work for pple to see.. i work to fulfill my OWN responsibilty tiah

 

no matter how we do/work sure got Small People around. Worse is those boss got SUPER light ears only choose to believe small people.

 

As one my colleague said.. at the end if we die overwork, the company just present a wreath.. those balls lickers won't even bother to attend your wake.

Self demote, less responsibility but same pay?

 

You're our new MCF sifu!

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Turbocharged

Self demote, less responsibility but same pay?

 

You're our new MCF sifu!

 

not say less responsibility.. just different..

 

previous role involve manpower.. when human is involved is complex  [laugh]  [laugh]  [laugh]

 

current role is figures crunching..

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Twincharged

with automation.. more lower level jobs will be replaced by robots/automation.

 

These saving eventually where it goes? the Top Tier loh..

 

Let say those automatic driven buses/lorry/trucks do come true in near future.. how many jobs it going to replace/displace? let's assume our standard solution is to provide training to them to get redeployment.. honestly where to find jobs for them? If Grab/Gojek oso self driven... gg liao 

 

Some even debate to introduce an Automation tax where the saving will then pass to these people who got replaced.. don't think it work..

 

the best part of it all is that the ROI will never be able to be recovered.

 

Just like a certain bank that paid 80Mil for licence of a common sofware and now retrenching...

with automation.. more lower level jobs will be replaced by robots/automation.

 

These saving eventually where it goes? the Top Tier loh..

 

Let say those automatic driven buses/lorry/trucks do come true in near future.. how many jobs it going to replace/displace? let's assume our standard solution is to provide training to them to get redeployment.. honestly where to find jobs for them? If Grab/Gojek oso self driven... gg liao 

 

Some even debate to introduce an Automation tax where the saving will then pass to these people who got replaced.. don't think it work..

 

try India taxation system and it will take you light years to have it totally automated.

 

If you think procurement was easy, wait till you do global platform where you run data center. Its like a taiwanese drama that drags on for 9 season with 1000 episodes per season

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Turbocharged

the best part of it all is that the ROI will never be able to be recovered.

 

Just like a certain bank that paid 80Mil for licence of a common sofware and now retrenching...

 

it seem alot of biz now run on "What ROI? not my money to burn!"

 

As long as investor pump in money and he/she pocket some. The company can slowly erode away.

 

the new economy job cycles getting shorter. 

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(edited)

Best not to have kids these days  [nod]

 

That's why some people did said - why spend money that you have not earn? Just starting to work for someone already, buy house, buy car, have children and get married. Nothing wrong with this kind of thinking, but it seems like we as a society prefer to have it citizens to be enslaved to various kind of debts. 

 

When troubles hit, we blamed everyone (government, foreigners and even our own parents). Maybe I'm just old-fashioned and tradition, but this has served me well. Before you want to have your own car, own house, have children and good life, I think it would be wiser not to be overly confidently and sign yourself to various lifestyle promised/marketed to us by external agent of influence. When things goes wrong, who are you to blame them for not teaching you.

 

Don't be too naives.

Edited by Dinosaur33
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(edited)

Yes.. because it is sector that got hit.. specialized skill command more but when tsunamis come very hard to find job especially if the sector got hit or even wipe out..

 

Ask yourself.. Will u rather be a 

 

1) Dishwasher in a Chicken Rice Store?

 

2) Roti Prata Flipper at a Roti Prata Store?

 

Deleted post

Edited by Dinosaur33
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Look for internal posting then cook stories ð¤£ð¤£ð¤£

Looks like you are in a MNC, otherwise there is no such thing call internal postings in small local companies or even SMBs.
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Turbocharged

Looks like you are in a MNC, otherwise there is no such thing call internal postings in small local companies or even SMBs.

 

Yes i only work in big structure company..

 

After i got retrenched for nearly 2 year plus.. got a job at an SME.. Bosses drive BIG Merc, Porsche and Maserati parked nice nice at lobby.. but the toilet inside cannot make it.. so dirty and poorly maintained.. it show how much they lover themselves then to take care of basic needs of staffs/workers.

 

Resigned the next day. Not because of the toilet lah!  [laugh]  [laugh]  [laugh]

 

The first company i work in is a german company.. back in 1999.. they spent S$20K to get a proper toilet at Beijing Training center before sending me over to train..

 

So which company would you like to be in?

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Yes i only work in big structure company..

 

After i got retrenched for nearly 2 year plus.. got a job at an SME.. Bosses drive BIG Merc, Porsche and Maserati parked nice nice at lobby.. but the toilet inside cannot make it.. so dirty and poorly maintained.. it show how much they lover themselves then to take care of basic needs of staffs/workers.

 

Resigned the next day. Not because of the toilet lah! [laugh][laugh][laugh]

 

The first company i work in is a german company.. back in 1999.. they spent S$20K to get a proper toilet at Beijing Training center before sending me over to train..

 

So which company would you like to be in?

In the older days, big MNC tend to be human centered, this has become history long ago and is no longer the case.
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