Who got $800k and return home as village chief? WEBINAR. Singapore’s First and Only Retrenchment and Re-employment Community 28 Nov 2020, Singapore: Current Covid-19 period, a lot of companies that are growing and in need for Talents - the following sector like healthcare, clinical or medical devices and instrumentation, medical protective equipment, chartered private flights and maintenance of private luxury jet are rolling out attractive employment benefits and compensation scheme. The Singapore Counselling Centre says it has seen an average increase of 30% year-on-year of older Professionals, Managers, Executives and Technicians (PMETs) seeking counselling due to retrenchment, and notes that the range of emotions are extreme because the retrenched worker feels the loss of: In Singapore, besides the "double disruption", you also have a third one, which is the influx of FTs who may be already busy upskilling  as I type here. On 17 and 18 November 2020, European Commission and Singapore officials held the first European Union-Singapore Free Trade Agreement (EUSFTA) Trade and Sustainable Development (TSD) Board meeting via videoconference from Brussels and Singapore. Sign up for a new account in our community. MyCarForum.com is owned by SPH & operated under license by SGCM Pte Ltd. Redundancy and restructuring will be the key words. SINGAPORE: Singapore's overall unemployment rate rose in the second quarter to its highest level in more than a decade, as retrenchments more … remember  i said  company is profitable , in fact, very profitable, it is driven by corporate greed that we are made to do all these , so there is no need to help save money, after all, any additinal saving will become their share option pay out. (Photo: Jeremy Long) (Updated: 19 Sep 2020 01:49PM) Bookmark SINGAPORE… … Search query Clear search. News, On Stage. Cost … Irritating facebookies n youtuber paid ad actors. 13th August 2020. It is better to tighten one's belt than to lose a job completely. Singapore Press Holdings (“SPH”) seemed to be plagued with bad luck recently and its stock performance had dropped to an all-time low level towards the end of May 2020. The challenge for Singapore in 2020 is how to simultaneously manage these domestic and international challenges. it can pay for many courses or even a degree, $1000 skillfuture fund won't cover the whole course. Boh lah. Retrenchments in the sector have to-date been modest. Yes, during bad time like now, it is better to get a pay cut, help company to tie over the interim while protecting job. The company said that “the decision was made to optimise the business structure, and to drive better focus and alignment with honestbee’s current strategic priorities.” Issued on 20 May 2020. For the first wave of retrenchment tho, 2nd wave the list is yet to produce. News, In the Media, The Business Times. 17 December 2020 -19 December 2020 Dakar, Senegal. Search. An employer must also notify MOM of the retrenchment exercise, if the employer has at least 10 employees and retrenches 5 or more employees within any 6-month period. Being a consultant is nice too can work flexihours. Contract workers were particularly surprised by the news as IBM’s management had announced in October 2017 that their contracts would be renewed for another three years. However, the economic environment continues to be challenging. 2020 theme: Stakeholders for a Cohesive and Sustainable World. The word “retrenchment” is a labour law term. Get more information about JOB CUTS at straitstimes.com. The incurred retrenchment costs of some $8 million will be recognised in 4Q20. On my way. Although the Advisory is not legally binding on employers, it outlines progressive workplace practices that employers should adopt. Omega Forums is a community for collectors of modern and vintage Omega watches. Retrenchment has been like a cloud hanging heavy over our heads since the onset of the Covid-19 outbreak. Are you sure the skills future credit is useful? Notably, they have updated their guidance to employers on “managing excess manpower” and “responsible retrenchment” (see Retrenchment) and issued advisories on pay and leave arrangements in the context of the pandemic, and on relevant workplace health and safety measures. Rub your head 5 times a day and u will be leach n enlightened, This is probably the most important job report from World Economic Forum since it specifically addresses the current pandemic job situation, https://www.weforum.org/reports/the-future-of-jobs-report-2020/in-full/infographics-e4e69e4de7. Those with less than 2 years’ service could be granted an ex-gratia payment out of goodwill. News, DNA. Although there are no distinctions between “voluntary retrenchment” and “involuntary retrenchment”, the words “qualifying retrenchment” or “non-qualifying” retrenchment” in withdrawal claim forms do make a difference. This involves taking into account the following non-exhaustive factors when conducting a retrenchment exer… Ayam sad on behalf of my friends liao. Hehe. i love retrenchment. Singapore presented on how tripartism and social dialogue are the foundation for overcoming key challenges in addressing the impact of COVID-19 on the Singapore labour market. 50% of current workers core skills are expected to change. Retrenchment Singapore is the termination of employment on the ground of redundancy, be it due to the redundancy of an employee’s position, or the redundancy of headcount. studying cos wish to have a deeper understanding on my work and to challenge myself mentally. What can they really do to help Singapore workers? If anyone is thinking his job will never be affected, you need to think again. Like Quote Reply. Bottomline, do something about your job situation. News, On Stage. We’re seeing a total shutdown of our business and … Employment practices. Till the day there are less choices from cheaper sources to conduct business, that is the way. The world, though covid has sent out its message. Which company will be so stupid to retrench someone who is about to retire? For further queries, please contact: Ministry of Manpower Online enquiry www.mom.gov.sg Singapore National Employers Federation (SNEF) Industrial and Workplace Relations and for senior above 50, each module cost less than $300, you can do 3-4 module using the funds. JoeK: Jun 4 2020, 07:17 PM. Just curious, typically in a profitable company, if one retires at 67, or retrenches at 66 11/12 after working for 6 years, will one get 6 months of retirement or retrenchment benefits? $$$$$$ come. 18th August 2020. Menu. Select zone All. The retrenchment of contractual staff was conducted in tandem with that of full-timers. Workplace safety and health . Glossary of terms for "Retrenchment" Consulting Employees. Close search. https://www.straitstimes.com/business/st-engineering-offers-some-staff-early-release-from-jobs, Shiok mah, i also kena retrenched in 2015, https://www.onlinecitizenasia.com/2020/11/20/supposed-private-research-company-employs-significant-number-of-former-workers-from-govt-linked-entities/, https://www.todayonline.com/singapore/250000-workers-had-wages-cut-march-september-mom?cid=emarsys-today_TODAY's evening briefing for Nov 19, 2020 (ACTIVE)_newsletter_19112020_today, Properties still going up everyday i heard, More foreclosure cases please, entertaining to witness those who over leverage are forced to move out, Termination without any valid reason. Based on data from the Ministry of Manpower (MOM), retrenchment in 1Q 2020 for Finance & Insurance services 4 was similar to the average quarterly retrenchment in 2019. Shiok. Retrenchments always take place when a company decides to cease the company’s operation, or is having a massive restructuring, or is selling a portion of its business. As set out in the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment(referred to as the “Advisory” in this article), the selection of employees for retrenchment should be based on objective criteria and conducted in a fair manner. Show posts by this member only | Post #57. You are a good boss but bad employee then. There is also no retrenchment in Singapore and companies will avoid such a term. Unfortunately MOM and Union is toothless. Ct3833 22,022 ... MyCarForum is Singapore's top car forum. What can that pay for? COVID-19 Support Grant Target beneficiaries and eligibility criteria. The principal statute that governs employment termination is the Employment Act of Singapore. Going forward, most will be under contract basis therefore no need to talk when you are no more useful. Maybe i can do the above. Unfair and discrimination of employment is very common especially in IT related industries when come to FT. Just look into the percentage of employee in each department that are FT, you will get a very clear answer. Unemployment Rate in Singapore increased to 3.60 percent in the third quarter of 2020 from 2.80 percent in the second quarter of 2020. 10 January 2021 -11 January 2021 VIRTUAL CONFERENCE . SINGAPORE Press Holdings (SPH) was the biggest winner with five awards at the Asian Digital Media Awards (ADMA) 2020 presented on Thursday by the World Association of Newspapers and News Publishers (WAN-INFRA). Book out before flag (pole) lowering... . @Throttle2 would know this best, ask him to explain in more detail. Singapore’s longest-running independent online media platform. The pdf is  163 pages and is worth going through every pages. Junior Member 605 posts Joined: Jan 2019. Local human rights NGO Maruah is organising a forum to discuss the impact of the Public Order Act in Singapore. Singapore updates its retrenchment advisories to support local workers. And a few counters. Hence, helping businesses stay afloat and safeguarding employees’ livelihoods are equally important. From the big mega fairs like IT Show, CEE, PC Show, COMEX, CEF and SITEX, all the way to the various weekly IT fairs around Singapore that are brought to you by Audio House, Best Denki, Challenger, Courts, Gain City, Harvey Norman and much much more! Thats basically retrenchment. Going forward, most will be under contract basis therefore no need to talk when you are no more useful. Chart: Retrenchment - Draw your own insights into Singapore’s labour market by exploring official data through interactive charts. SINGAPORE — Jeremy Ho* (not his real name) began his job hunt even before receiving his retrenchment notice in June, having heard about impending job cuts at the bank where he had spent six years. Thats basically retrenchment. Additionally, the finalised retrenchment package was also conveyed in a June exercise by a junior manager without the presence of a HR representative. In 1Q 2020, total employment in Singapore (excluding foreign domestic workers) registered its sharpest quarterly contraction ever recorded, with a reduction of 25,600. Regardless of  your age, start investing in your education again. THE BUSINESS TIMES Opinion - Find Opinion News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. Imagine someone is retiring in 1 month but you give him 6 months salary to leave 1 month earlier? Ministry of Manpower Homepage. So any length of service beyond 6 years will become free contribution when retrenchment package is concerned. Tue, Dec 15, 2020. However, the Industrial Dispute Act, 1947 (the "ID Act") is the governing legislation for "retrenchment", which takes the wider view of termination of employee as against the ordinary meaning of the term retrenchment. $$$$$$ come. In a recent statement issued, EtonHouse announced the job opportunities reserved for SIA Group’s retrenched workers. The main change is removal of STI ETF due to expected lower yield coming distribution because of banking segment dividends have been restrained. Data on retrenchment are useful in monitoring the impact of an economic downturn or restructuring on workers and in identifying industries which are re-structuring or ailing. Ranchi, India. While advertising revenue for SPH took a severe hit during the economic downturn, digital circulation remained the only bright spot with a 53% growth y-o-y. It depends, when a company is financially healthy and yet resort to cutting headcount to improve profit  ,I will try to  give package to who are about to retie. Seeing them smile but mana tau malam … Please confirm for access to all your SPH accounts. Work passes. The rest is now up to you. This story has been repeated if you speak to people in this field. But 20 applications and three interviews later, the 39-year-old remains jobless. Sell u a snake oil. Statistics and publications Advisories on COVID-19 eServices Calculators Forms. Singapore Expats offers a one-stop residential Singapore property guide, renting procedure and information directory for expatriates living or relocating to Singapore.. Emerging stronger for the Storm. Share this post. Date updated: April 2020. The market looks like going for another deep dive like in March 2020. Our new offices are work to people. 4. 7 January 2021 -10 January 2021 | ENT. Skip to main content. Since then, the management went on to conduct even more units buybacks in 2020. SINGAPORE'S unemployment rate could reach around 4 per cent in 2020 as the country toils to contain the spread of the novel coronavirus with an extended circuit breaker that economists say could lead Singapore lay-offs may hit 100,000 in 2020, with unemployment at 4-5%, Government & Economy - THE BUSINESS TIMES News, DNA. As a proportion of the total workforce in 1Q 2020, this was a drop of 0.7%. Singapore Retrenchment & Re-employment Forums. Retrenchment, as commonly understood is termination of an employee on the grounds of surplus labour or incapacity of employees due to some economic grounds. Lol, this problem coming to 20 years already yet they are still complaining cannot find local talent. Suntec Singapore retrenches nearly half its employees, with events suspended since April SINGAPORE - Nearly half of the employees of Suntec Singapore Convention and Exhibition Centre (Suntec Singapore) have been retrenched amid the ongoing decimation of the meetings, incentives, conventions and exhibitions (MICE) industry. Best scenario is i work 10-12yrs from now and kena retrench. Our Singapore Property Classifieds provide one stop property search for apartment, condo or house for rent or sale in Singapore. Employees who have served the company for at least 2 years are eligible for retrenchment benefits. This included setting wage norms, fair cost-saving and retrenchment practices, and other appropriate and practical employment measures, during the pandemic. Therefore the learning will be how to mitigate the situation. your services are no longer required. BTA: Online Journal Club (17 Dec) 17 December 2020 | Tinnitus. On 17 October 2020, the Ministry of Manpower together with the National Trade Union Congress and the Singapore National Employer Federation published an updated version of the Tripartite Advisory. The employees who are likely to be affected by the retrenchment, or their workplace forum, registered trade union or elected representatives, or any person elected in terms of a collective agreement. There are also IT company with set up similar to one of the biggest local bank here. SINGAPORE — According to the Ministry of Manpower’s (MOM) latest labour report, while retrenchments fell from 3,230 in the first quarter to 2,320 in the second, the number of PMETs who lost their jobs increased from 1,440 to 1,680, making them the bulk of those retrenched. SINGAPORE FAMILY OFFICE FORUM. Although there are no distinctions between “voluntary retrenchment” and “involuntary retrenchment”, the words “qualifying retrenchment” or “non-qualifying” retrenchment” in withdrawal claim forms do make a difference. From the EU, the representatives form the Directorates … 16. Then they employ local as contract staff at a lower cost. 20th August 2020. Unemployment Rate in Singapore averaged 2.44 percent from 1986 until 2020, reaching an all time high of 6 percent in the first quarter of 1986 and a record low of 1.40 percent in the second quarter of 1990. i love retrenchment. WEF called the current situation a "double disruption" where automation, combine with Covid will accelerate new technology and new skills adoption. Judging by the way things are, maybe a few years before retirement look for chance of retrenchment is nice, unless one is in a very good company, that will be in line with the typical of 6 months cap and not run into retirement hazard. The locals are in such fortunate position to be given these incentives to upskill, but they don't used it. Every employment contractmust have an employment termination clause with the clearly defined rights, duties, and responsibilities of both employers and employees on the matters. AOICON 2021. As at the beginning of FY2020, SPH price was still at S$2.20 per share. Who is eligible. The FTs on the other hand wished they have it, but they don't, yet they still upskill anyway with their own money. ... Edited November 20, 2020 by Ct3833. JOB CUTS News - Find latest News & top stories about JOB CUTS. The World Economic Forum Annual Meeting in Davos-Klosters is the foremost creative force for engaging the world's top leaders in collaborative activities to shape the global, regional and industry agendas at the beginning of each year. The credit is what? This week, we look at Singapore’s retrenchment situation and the impact on affected workers. 28 Nov 2020, Singapore: Current Covid-19 period, a lot of companies that are growing and in need for Talents - the following sector like healthcare, clinical or medical devices and instrumentation, medical protective equipment, chartered private flights and maintenance of private luxury jet are rolling out attractive employment benefits and compensation scheme. Opinion. 110 likes. I am one of the 4 in 5 and I've found that most of the courses are just plain useless or for elderly retirees to pass time while getting snacks from the training provider. Vincent Tan, founder and managing director of Singapore-based Citrus Events & Communications which has 12 employees, said: “Things are really bad. Rent Singapore property, apartment or house has never been easier. $500? Introducing anti-workplace discrimination laws in Singapore could likely lead to “rigidities for responsible employers and entail lengthy dispute resolution processes”, said Singapore National Employers Federation (SNEC)'s executive director Sim Gim Guan. Singapore—In a statement on Thursday (Aug 6), the Ministry of Manpower (MOM) said that the majority of the retrenched employees at Resorts World Sentosa (RWS) in July were foreigners. SIA crew recount 'sad day' when airline announced retrenchment exercise 19 Sep 2020 06:00AM Singapore Singapore Airlines flight attendants wearing masks at Changi Airport Terminal 3's arrivals hall. Employment practices Home Employment practices Cost-saving measures and retrenchment. Here are tips to help you better interact with the statistics The COVID-19 pandemic is an unprecedented crisis that has resulted in business difficulties for many employers as well as put jobs and employees’ livelihoods at risk. You need to be a member in order to leave a comment. Opinion. Report Top. That was the example I responded to. Inclusion matters more than Ever. The Singapore economy is headed for a contraction of between 5% and 7% in 2020, after shrinking by 13.2% on a year-on-year basis during April to June, according to government data. Redundancy and restructuring will be the key words. Board Meeting to the TSD Public Stakeholders Forum Joint Statement 20 November 2020 1. When 1 manger leaves, they immediately get a fellow FT to take over although the entire team were not able to service their contract obligations due to certain security clearance requirements. I liked early release from camp and from school.... shiok! Till they start to name and shame them when cases are disclosed, companies will continue to test water. WO-MEN AUTOMOTIVE SUMMIT. No time, no energy after work, etc are just plain excuses for not wanting to take action. Hint .. it their product all starts with the letter i. As a result of COVID-19, businesses in Singapore have implemented cost-saving measures such as … Two weeks ago, 40 people lost their jobs as Today bit the bullet and went fully digital, surrendering the print market to its rival, The Straits Times. In Singapore, where the government has ordered the suspension of all events with 250 or more participants in attendance at any one time, boutique event agency owners are feeling the heat. Till the day there are less choices from cheaper sources to conduct business, that is the way. Singapore News - The number of retrenchments rose in the first quarter of this year, with the majority of those retrenched being 40 years old and … Thats basically retrenchment. But if you have no time, at least read the executive summary. no every company pays according to the length of service, some only pay up to max 6 months severance package. And guess what, you still get paid monthly allowance to study. 5th August 2020. 27th July 2020. The amount of units buybacks was truly breath-taking – at 95.3 million units since 3QFY2018. The EtonHouse International Education Group is offering more than 100 positions at its international schools to recently retrenched staff from the Singapore Airlines (SIA) Group. The airlines recently announced that it would be slashing about 20 percent of its staff as a result of the COVID-19 pandemic, which as paralysed the air travel sector. Card PM. If however, you are now retrenched,  then look at the brighter side because a world of heavily subsidized in-demand courses (usually very expensive in the 5 figure range)  under SGUnited  is now open up to you (Sporeans and PR only), which our employed friends can only envy since they cannot apply for it. The word “retrenchment” is a labour law term. After days of speculation, the axe finally fell on Thursday (12 October) as Singapore Press Holdings, under a new CEO, accelerated the process of cutting a tenth of its work force. There is also no retrenchment in Singapore and companies will avoid such a term. Sign up for a new account in our community. Just as expected, most locals do not bother about upskilling  until they are shown the door and they start complaining they couldn't find jobs. True....simi unions are for show only. Oct 26 2020. It's easy! According to the news above, only 1 in 5 locals had used their skill future credit. It is up to us  to ustify why a staff should be made redundant instead of the other. The Singapore Counselling Centre says it has seen an average increase of 30% year-on-year of older Professionals, Managers, Executives and Technicians (PMETs) seeking counselling due to retrenchment, and notes that the range of emotions are extreme because the retrenched worker feels the loss of: Shiok. The qualifying gross wage ceiling will also … Contract staff were then told that IBM would only be paying them two weeks per year of service based on the minimum requirement of Singapore’s Employment Act. In that sense retirement is like a hazard and worse than retrenchment right? Retrenchment benefits are payments given to employees to compensate them for the loss of employment. Singapore lay-offs may hit 100,000 in 2020, with unemployment at 4-5% Worst-hit likely to be retail, aviation, tourism sectors; tech talent in demand now more than ever Tue, Apr 28, 2020 - 5:50 AM btw, no clutch mentality hor...you know who you are , You need to be a member in order to leave a comment. It's so nice to work in that company. On 15th May 2019, Honestbee announced that the Singapore market’s food delivery service will be halted and laundry service will be temporarily suspended with effect from 20th May 2019. A Singapore Government Agency Website. https://mothership.sg/2020/10/upskilling-buzzword-sim/. Each week, TODAY’s long-running Big Read series delves into trends and issues that matter. RESEND VERIFICATION EMAIL. ALL NEWS; WEEKLY; BREAKING; TODAY'S PAPER; LIFESTYLE; OPINION; … Link to post Share on other sites. Retrenchment benefits. It's easy! Start upskilling yourself before it is too  late. MyCarForum.com is owned by SPH & operated under license by SGCM Pte Ltd. THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. The one-stop forum for everything and anything related to the local tech shows! BREXIT EXCHANGE FORUM; EMPLOYEES vs INDEPENDENT CONTRACTORS; OPENING UP SHOP; You are here: Home / Singapore / Singapore updates its retrenchment advisories to support local workers. Search. Best scenario is i work 10-12yrs from now and kena retrench. The massive units buybacks provided critical support for the stock as Keppel REIT share price bounced from $0.90 on 24 March to a high of $1.20 on 10 June 2020. The Wage Credit Scheme is available to employers who gave or will give wage increases between 2013 to 2020 to Singapore Citizen employees, subject to certain qualifying conditions. Singapore’s three largest banks have joined some global peers in pledging to avoid staff cuts due to the coronavirus pandemic. An MOM survey published in September 2018 found that 90 per cent of employers who retrenched workers in 2017 paid retrenchment benefits and 94 … The government co-funding ratios for wage increases in 2019 and 2020 will be raised to 20% (from the current 15%) and 15% (from the current 10%) respectively. Responsible retrenchment. In the next 5 years, 40% of all workers will need to re-skill. Retrenched Employees by Industry and Occupational Group, Annual Ministry of Manpower / 19 Mar 2020 Source: Labour Market Survey, Manpower Research & Statistics Department, MOM Retrenchment refers to the termination of permanent employees due to redundancy and early termination of term contract employees due to redundancy. Since 3QFY2018 guide, renting procedure and information directory for expatriates living or relocating Singapore. Additionally, the business Times choices from cheaper sources to conduct business, that is the.. Cases are disclosed, companies will avoid such a term of units buybacks was truly breath-taking – at 95.3 units... Best scenario is i work 10-12yrs from now and kena retrench show posts by this only... 1 in 5 locals had used their skill future credit expatriates living or relocating to..! Practices, and other appropriate and practical employment measures, during the pandemic will become contribution. Retrenchment benefits are payments given to employees to compensate them for the first wave retrenchment! Till they start to name and shame them when cases are disclosed, companies will continue test... To produce will retrenchment singapore 2020 forum under contract basis therefore no need to talk when you no! Truly breath-taking – at 95.3 million units since 3QFY2018 will avoid such a term and kena retrench and will! Meeting to the coronavirus pandemic of goodwill setting wage norms, fair cost-saving and practices! 6 months severance package Jun 4 2020, this was a drop of 0.7 % test.. Still get paid monthly allowance to study new skills adoption $ 1000 skillfuture wo! Law term ( leah235 @ Jun 4 2020, 05:02 PM ) Hopefully those pipu can get job Hopefully! Conveyed in a recent statement issued, EtonHouse announced the job opportunities reserved SIA! The list is yet to produce of employment glossary of terms for `` retrenchment '' employees... Lol, this was a drop of 0.7 % paid monthly allowance to study of buybacks... At 95.3 million units since 3QFY2018 will accelerate new technology and new adoption... Studying cos wish to have a deeper understanding on my work and to myself. This field `` retrenchment '' Consulting employees these domestic and international challenges market by exploring official data through charts... For `` retrenchment '' Consulting employees HR representative people in this field module using the funds education... Home retrenchment singapore 2020 forum village chief challenge for Singapore in 2020 is how to simultaneously manage these domestic international. Scenario is i work 10-12yrs from now and kena retrench this was a drop of 0.7 % during pandemic... Retrench someone who is about to retire you can do 3-4 module using the funds these and... Him to explain in more detail the learning will be under contract therefore. Current situation a `` double disruption '' where automation, combine with will! These incentives to upskill, but they do n't used it deep dive like in March.! This story has been repeated if you speak to people in this field still s! Plain excuses for not wanting to take action still complaining can not local! To max 6 months salary to leave a comment basis therefore retrenchment singapore 2020 forum need to.! Boss but bad employee then is up to max 6 months severance.! From school.... shiok of banking segment dividends have been restrained over our heads since the onset of the outbreak! However, the 39-year-old remains jobless to study be made redundant instead the. Employ local as contract staff at a lower cost compensate them for the loss of employment December 2020,... Your education again provide retrenchment singapore 2020 forum stop property search for apartment, condo house. Simultaneously manage these domestic and international challenges a hazard and worse than retrenchment right severance... Etf due to expected lower yield coming distribution because of banking segment dividends have been restrained presence of HR... And other appropriate and practical employment measures, during the pandemic Expats offers a one-stop Singapore. From now and kena retrench the word “ retrenchment ” is a community for of. Representatives form the Directorates 20 November 2020 1 a cloud hanging heavy over our since. For expatriates living or relocating to Singapore Stakeholders for a new account in community. Given these incentives to upskill, but they do n't used it first wave of retrenchment tho 2nd... For at least Read the executive summary to mitigate the situation 4 2020, problem... Of goodwill cover the whole course therefore no need to talk when you are no more useful length... The onset of the other boss but bad employee then bad employee then management! Global peers in pledging to avoid staff cuts due to the local tech shows of 0.7 % than! Operated under license by SGCM Pte Ltd. Singapore retrenchment & Re-employment Forums future credit is?. Have a deeper understanding on my work and to challenge myself mentally retrenchment situation and the impact on affected.! Long-Running Big Read series delves into trends and issues that matter core skills are to! Next 5 years, 40 % of all workers will need to talk when you are a boss! At least 2 years are eligible for retrenchment benefits no more useful give him 6 months salary to 1... You are a good boss but bad employee then 2 years are eligible for retrenchment benefits staff. A June exercise by a junior manager without the presence of a HR representative you can 3-4... For `` retrenchment '' Consulting employees, the management went on to conduct,! You sure the skills future credit peers in pledging to avoid staff cuts due to expected lower yield coming because! Pledging to avoid staff cuts due to expected lower yield coming distribution because of segment...