All about retrenchment

General comments and chit-chat, or tell us how we can improve KiasuParents.com
Post Reply
janet88
KiasuGrandMaster
KiasuGrandMaster
Posts: 40746
Joined: Tue Oct 20,
Total Likes:140

Re: All about retrenchment

Post by janet88 » Wed Jun 22, 2016 11:20 am

zbear wrote:
janet88 wrote:if only the union here is very strong to protect employees. hubby said the union in France is very strong and it is almost impossible for companies to fire. his counterparts there are easily in their late 50s to early 60s.
Management staff are generally not unionized so it's difficult to fight for good retrenchment benefits.

Depending on the retrenched employee job performance n the financial state of the company, companies will generally give 1 month for 1 year service.

If able to get 1 month for 1 year of service is considered very lucky.
1 year 1 month is really very lucky...the older batch of employees in hubby's company enjoyed that...they worked for 20 years. subsequently it was reduced.

pirate
KiasuGrandMaster
KiasuGrandMaster
Posts: 4827
Joined: Mon Jul 02,
Total Likes:186

Re: All about retrenchment

Post by pirate » Wed Jun 22, 2016 12:56 pm

janet88 wrote:if only the union here is very strong to protect employees. hubby said the union in France is very strong and it is almost impossible for companies to fire. his counterparts there are easily in their late 50s to early 60s.
Unions only protect people who already have a job. Companies in France do not hire because they cannot fire. As of April 2016, the youth unemployment rate is 23.5%.

One may be able to keep one's job, but one's children may not be able to get jobs. Do Singaporeans wish this for their children?

zbear
KiasuGrandMaster
KiasuGrandMaster
Posts: 5157
Joined: Mon Sep 16,
Total Likes:67

Re: All about retrenchment

Post by zbear » Wed Jun 22, 2016 3:29 pm

pirate wrote:
One may be able to keep one's job, but one's children may not be able to get jobs. Do Singaporeans wish this for their children?

Indeed it's so frightening. I know of some friends who were graduates but couldn't find jobs for more than a year n live on savings. Eventually after 1 year, she only managed to get a contract job.

We can't take availability of jobs for granted. The economy is very depressing.

Steadyberry
BrownBelt
BrownBelt
Posts: 587
Joined: Sun Mar 27,
Total Likes:1

Re: All about retrenchment

Post by Steadyberry » Wed Jun 22, 2016 5:45 pm

My sil has been working for a mnc since she grad for about 18-19 yrs. The company is moving some of their departments to India and her department is affected. She is not sure whether she is able to get a job after her retrenchment. Think she will need to lower down her expected salary.

Another ex-colleague of mine was also retrenched from a mnc. After retrenchment, she lowered her salary to about 20-30%. Otherwise it was difficult to get a job based on her previous salary.

Recently, my friend's son graduated from poly. He mentioned that he is expecting at least a few thousand for his starting pay. He won't accept anything lower. Is it that easy for fresh grad to get a job with starting salary of few thousands whereas those retrenched will need to lower their salary in order to get a job?

slmkhoo
KiasuGrandMaster
KiasuGrandMaster
Posts: 12023
Joined: Wed Sep 15,
Total Likes:252

Re: All about retrenchment

Post by slmkhoo » Wed Jun 22, 2016 6:22 pm

Steadyberry wrote:Recently, my friend's son graduated from poly. He mentioned that he is expecting at least a few thousand for his starting pay. He won't accept anything lower. Is it that easy for fresh grad to get a job with starting salary of few thousands whereas those retrenched will need to lower their salary in order to get a job?
It's based on demand and supply. If his area is in high demand, maybe he can get a high salary. I have friends who graduated from local universities in the past 2 yrs who are getting $2.5K to $3K.


Steadyberry
BrownBelt
BrownBelt
Posts: 587
Joined: Sun Mar 27,
Total Likes:1

Re: All about retrenchment

Post by Steadyberry » Wed Jun 22, 2016 9:31 pm

He did psychology & a poly grad. Not varsity grad.

floppy
KiasuGrandMaster
KiasuGrandMaster
Posts: 8509
Joined: Wed Jul 31,
Gender: Male
Total Likes:253

Re: All about retrenchment

Post by floppy » Wed Jun 22, 2016 10:13 pm

Steadyberry wrote:He did psychology & a poly grad. Not varsity grad.
He would have to moderate his expectations.

But then again, they are the millennials. They think companies are going to go heads over hill and will pay top dollar for them. They will find the real world a less than welcoming place :laugh:

slmkhoo
KiasuGrandMaster
KiasuGrandMaster
Posts: 12023
Joined: Wed Sep 15,
Total Likes:252

Re: All about retrenchment

Post by slmkhoo » Thu Jun 23, 2016 1:25 pm

Steadyberry wrote:He did psychology & a poly grad. Not varsity grad.
Sounds like he will be unemployed for a while until he becomes more realistic!

limlim
KiasuGrandMaster
KiasuGrandMaster
Posts: 6939
Joined: Mon Aug 02,
Total Likes:108

Re: All about retrenchment

Post by limlim » Tue Jun 28, 2016 12:36 pm

floppy wrote:
Steadyberry wrote:He did psychology & a poly grad. Not varsity grad.
They will find the real world a less than welcoming place :laugh:
Agree....

They should always ask this question, why should the employer employ them? Are there better/cheaper alternatives? there, the answer to whether he will get employment. Of coz if he can work in his father or grandfather company that is different story.

pirate
KiasuGrandMaster
KiasuGrandMaster
Posts: 4827
Joined: Mon Jul 02,
Total Likes:186

Re: All about retrenchment

Post by pirate » Tue Jun 28, 2016 12:52 pm

limlim wrote:They should always ask this question, why should the employer employ them? Are there better/cheaper alternatives? there, the answer to whether he will get employment. Of coz if he can work in his father or grandfather company that is different story.
Father or grandfather company may tell you to start from Office Boy. :wink:

Post Reply