Be Greatful to Ho Jinx For Declaring Pay Cut!

[makapaaa]

<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Nov 21, 2008
</TR><!-- headline one : start --><TR>Pay cuts at Temasek <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Francis Chan
</TD></TR><!-- show image if available --><TR vAlign=bottom><TD width=330>

</TD><TD width=10>

</TD><TD vAlign=bottom>

90 per cent of the anticipated wage savings will be borne by Temasek's key managers. -- PHOTO: BT
</TD></TR></TBODY></TABLE>




<!-- START OF : div id="storytext"-->SINGAPORE investment company Temasek Holdings has emerged as the first employer here to publicly announce a company-wide round of pay cuts.
'We anticipate a global recession in 2009 and possibly beyond. Therefore, Temasek will institute a firm-wide wage cut, led by senior management who volunteered 15 to 25 per cent,' said Temasek's managing director for human resources, Mr Robert Chong.
He said 90 per cent of the anticipated wage savings will be borne by Temasek's key managers.
Temasek currently manages a portfolio worth about $130 billion, which is invested both at home and abroad.
'As a long term investor, we believe this current crisis will throw up tremendous opportunities,' added Mr Chong in his email to The Straits Times on Friday night.
'Yet, we also recognise the short term challenges and will adjust our actions appropriately.'
Despite the extensive wage cut, Temasek still expects to expand its staff strength by 15 per cent over the next two years.
'This is part of our longer term plan to have a staff strength of about 500,' said Mr Chong.
According to its latest annual report, Temasek has 'a 350-strong international team' based in Singapore. Read the full story in Saturday's edition of The Straits Times.

 

[myo539]

"Temasek said senior managers had volunteered to take a pay cut of between 15 and 25 percent"

Wah such enlightened workers!!! Where else in the world could you find workers willing to volunteer to take pay cut other than in Singapore? What happens to those who don't or won't volunteer?

Who else would like to volunteer a pay cut? (Guarantee that pay will be restored and bigger bonuses be paid once the economy improves?)

 

[Leegimeremover]

Do you want a happy family and a country of Singapioreans who is friendly and helpful to one another? Do you want a country prosperous and caring? End the PAP corruption. Vote them out in full force and take the motherfuckers to court. Or there will be no Singapore left so to speak. Down with the regime. We need elections. There is nothig the dickheads can promise you any more. Let us end this dictatorial charade.

 

[Leegimeremover]

Time to liquidate GIC and TH. Or else, they will be no money left for your children. Do you want to vote a bunch of compulsory gamblers who will bankrupt your grandchildrens' future? If you vote PAP, you vote poverty and a Singapore for foreigners.

 

[DOM the Clown]

"Temasek said senior managers had volunteered to take a pay cut of between 15 and 25 percent"

Wah such enlightened workers!!! Where else in the world could you find workers willing to volunteer to take pay cut other than in Singapore? What happens to those who don't or won't volunteer?

Who else would like to volunteer a pay cut? (Guarantee that pay will be restored and bigger bonuses be paid once the economy improves?)

I don't mind that they do not volunteer to have this pay cut exercise. A pay cut exercise would suggest that they are admitting to losing our monies!!!!

Ho Jinx! :oIo:

 

[Leegimeremover]

I don't mind that they do not volunteer to have this pay cut exercise. A pay cut exercise would suggest that they are admitting to losing our monies!!!!

Ho Jinx! :oIo:

In any way, they are fucked. Leegime removing time, no holds barred. Singapore will be around and even flourishing with happier Singaporeans. We can do very well for 5-10 years. After that no political party has any claim on that. PAP lied to you it did great for 43 years. What liars. Singapore is a golden goose that all in the world would love to have but PAP cannot even do a good job with a golden goose. This crisis will show the consequences.

 

[Tailok]

The fark up ppl at Temasek. Earn a few billions quickly declare big bonus $$$$ for themselves. Lost BIG BILLIONS $$$$$$$ kept quiet. What the fark. Screw the JINKS.

 

[halsey02]

"Temasek said senior managers had volunteered to take a pay cut of between 15 and 25 percent"

Wah such enlightened workers!!! Where else in the world could you find workers willing to volunteer to take pay cut other than in Singapore? What happens to those who don't or won't volunteer?

Who else would like to volunteer a pay cut? (Guarantee that pay will be restored and bigger bonuses be paid once the economy improves?)

Taking a pay cut , means, many of the deadwoods are still around.

 

[Leegimeremover]

25 percent pay cut but 3 additional month bonus covers all symbolic shows. You tell me no bonus and pay cut okay. Knowing Cheebye yew, he may give them 20 months bonus to spite Singaporeans.

 

[eQuipment]

the goose that lays golden eggs takes time to lay that golden egg, but the family became greedy & expect faster returns, so they inject stimulants to make the goose lay golden eggs at shorter intervals. they keep emphasizing on long term, but forgot to hatch more geese, to improve the productivity. and, they continue pushing the goose for more golden eggs at faster pace.

meanwhile, instead of pumping more nourishment for the goose, they introduced other pariah fowls that competes for food with the already exhausted goose, while all they produce were nothing by rotten eggs. no doubt, when hnugry they slaughter the pariah fowls for a meal or 2 periodically. however, the family grew bigger, n they needed more for food, so they progressively cut the wings off the goose for their own treat, but expecting more golden eggs.

later, their appetite grew, so they cut off the thighs of the goose, and still expect more golden eggs. when the goose is on the verge of breakpoint, the family blame the goose for being useless, and decides to make a meal out of it, when it's done laying its last golden egg.

 

[The_Latest_H]

The problem was that they overreached, over hired, overextended, overestimated, and finally overexpose themselves literally. And when they did all four, what was needed to take them out was just one financial bubble burst.

All thanks to the Board and of course, the CEO and chairwoman.

But what's funny though is that if it was a western company- excluding vehicle manufacturing companies- the CEO would have taken the blow head first and resign himself on the spot. Needless to say, the Board at Temasek would not have the guts to tell her to submit her pink slip and get cardboard boxes with immediate effect.