Bye Bye Tah Tah Seagate! Tah Tah JOBS! SG Ditched!

[sand_ban]

http://sg.news.yahoo.com/rtrs/20090804/tap-seagate-c3bb44c.html

Seagate to lay off 2,000 in Singapore
Reuters
Reuters - Wednesday, August 5

* To relocate hard disk drive plant from Singapore
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* To lay off 2,000 workers out of 8,000 staff in Singapore

SINGAPORE, Aug 4 - Hard disk maker Seagate Technologies <STX.O> said it will lay off 2,000 workers in Singapore as it shifts its manufacturing facilities from the city-state.

The move follows a slide in electronics exports from Singapore this year due to weaker consumer demand in the economic downturn.

"We are moving our hard disk operation at Ang Mo Kio (in Singapore) to other Seagate sites in other countries," company spokeswoman Lotus Tan told Reuters but did not provide further details.

She said Seagate employed a total of 8,000 workers in Singapore and would keep Seagate's Asia headquarters, media operation as well as a product development and design centre.

Singapore's overall unemployment rate stood at 3.3 percent in the second quarter but the number of people employed in Singapore fell by 12,400 in April-June, twice as much as in the first quarter. [ID:nSIN384892]

Seagate said in a statement its affected employees will be offered severance packages. It said the majority of Seagate's diskdrive manufacturing were spread across Thailand, China and Malaysia.

Tuesday's announcement came after Seagate said in May it had initiated a restructuring plan that included a reduction of about 1,100 employees or 2.5 percent of the company's global workforce. [ID:nN13385184]

The restructuring plan, which it said would be completed by July 2009, is expected to result in total pretax restructuring charges of around $72 million.

"This consolidation is necessary in order for Seagate to further increase efficiency and reduce costs by leveraging investments across fewer manufacturing sites," Seagate said.

In July, Seagate raised its forecast for margins and overall industry sales in the current quarter, citing a larger-than-expected increase in corporate demand for computers. [ID:nN21260962] (Reporting by Nopporn Wong-Anan and Harry Suhartono; Editing by Anshuman Daga)

 

[borom]

Seagate Technologies .... will lay off 2,000 workers in Singapore as it shifts its manufacturing facilities from the city-state.....to ... other countries," the number of people employed in Singapore fell by 12,400 in April-June, twice as much as in the first quarter.

Wonder how many of the 2,000 affected were at property launches or were pushing HDB resale prices to new highs.
2,000 from one company is a very big number for a little red dot.

 

[congo9]

I thought job credit is to save jobs ??? Isnt job credit enough ?

Or our cost of doing business here is really too high compare to other places ?

 

[dysentry]

Manufacturing should have been buried in the 90s. Seagate already gave Sinkapore alot of face by delaying the plant shutdown by a decade. Just think about the collateral damage to suppliers and vendors, probably another 1k jobs. What if the wafer fabs all jump ship as well. SGD needs to fall back to Ringgit parity for things here to look priceworthy again. Just look left and right, all the high-falutin stuff going on, pumping property, ever increasing defence budget, pricey food courts and staples, throwing money on biopolis / fusionpolis with no forseable payback ...

 

[besotted]

They can all work in casino and there are still many places left

 

[singveld]

seagate used to hire so many sinkies and FT in singapore.

now they move to thailand and china.

end of an era.

 

[peterlth]

I believe majority of the 2000 who kena sacked are production operators from Johor. Seagate used to ferry truck loads of cheap labour from up north to work at its plant.

 

[Lee Hsien Tau]

Ain't the labour cost that's chasing them away, I'm sure.

So what's the relevant cost that's causing the problem?

 

[halsey02]

Wonder how many of the 2,000 affected were at property launches or were pushing HDB resale prices to new highs.
2,000 from one company is a very big number for a little red dot.

Many of the 2,000 retrenched will get benefits in Singapore dollars, go back to wherever they come from, Malaysia, Philippines, P.R. China etc..live in comfort for a while, and come back here in SINgapore..again, as Foreign Talents.

Whereas, the locals...will get 'dust'....and eat dusts from the labor Union help...

 

[tonychat]

Told you already.. JObs are for sinkie losers.. Learn to invest from Robert Kiyosaki and learn the way to see how money flows.. in other words, face the truth.

Take a lesson or 2 from him and you found yourself having more balls than before.

Study hard , get a job and wait for retirement is a caveman model liao.

Jobs are only for youngster to learn and familiar about the ways of working life and then after maturing for a while, they are on their own.

 

[tonychat]

seagate used to hire so many sinkies and FT in singapore.

now they move to thailand and china.

end of an era.

That is called logical business move, i wonder why are they in sinkieland all these while, they should have moved out a long time ago. Come to Thailand, It is much cheaper and the people there are better.

I guess there is a limit in everyone for the tolerance of sinkieness, i guess seagate had enough of it.

 

[tonychat]

Ain't the labour cost that's chasing them away, I'm sure.

So what's the relevant cost that's causing the problem?

Are you sure it is just cost? HAve you forgotten sinkie behavior?

 

[ahpong]

Instead of letting MNCs moving to China, Thailand etc, our gahment is very smart, they bring China to Sinkapore but taking loads of PRCs and other FTs. Apparently it is still not enuf, so think they will step up the import of more PRCs. Of course the last thing they will look into is the land cost, utility cost etc that bite into the profits of GLCs.

 

[tonychat]

Instead of letting MNCs moving to China, Thailand etc, our gahment is very smart, they bring China to Sinkapore but taking loads of PRCs and other FTs. Apparently it is still not enuf, so think they will step up the import of more PRCs. Of course the last thing they will look into is the land cost, utility cost etc that bite into the profits of GLCs.

Our govt very smart.. give me a damn fucking break man.......

If they are smart , why so many local talents leaves that piece of small land? and now jobs are leaving too.

You take loads of prc, what can these prc do, more geylang trade? If you ask more FT to come, then there must be job for them. who create those job? Your sinkie govt?

I dun think a govt who lost $270 billion in investments are capable enough to create jobs, oh yeah are you referring to cleaners job?

 

[eeoror88]

Not to worry. There are still many jobs available at the shipyards.:o

 

[KuanTi01]

Quote:"Study hard , get a job and wait for retirement is a caveman model liao.

Jobs are only for youngster to learn and familiar about the ways of working life and then after maturing for a while, they are on their own."

The logic can't be faulted! Spoonfeeding is not meant to last forever. Eventually, one is left to fend for himself. In order for Seagate (e.g.) to survive, it's a case of "you die your business"

 

[SIFU]

If they are smart , why so many local talents leaves that piece of small land? and now jobs are leaving too.

QUOTE]

CB Kia tonychat,

An ex-convict like u who cannot find a decent job in spore n had to scram to thailand to become OKT is NOT a talent by any means:oIo::oIo:

stop bullshitting:oIo:

 

[saratogas]

These 2000 can try their luck at the IRs - more than 1000 dealers postion to be offered.

 

[44mm]

Told you already.. JObs are for sinkie losers.. Learn to invest from Robert Kiyosaki and learn the way to see how money flows.. in other words, face the truth.

Take a lesson or 2 from him and you found yourself having more balls than before.

Study hard , get a job and wait for retirement is a caveman model liao.

Jobs are only for youngster to learn and familiar about the ways of working life and then after maturing for a while, they are on their own.

You talk like very easy hor. You are a FT in thailand as well. Isnt it the same???

 

[2lanu]

That is called logical business move, i wonder why are they in sinkieland all these while, they should have moved out a long time ago. Come to Thailand, It is much cheaper and the people there are better.

I guess there is a limit in everyone for the tolerance of sinkieness, i guess seagate had enough of it.

They are leaving because the lease of the plant expired. I guess white scum had already know it long ago. That's why on news it mentioned more retrenchment to come soon.

Manufacturing had served this red dot well for the last 30 years. Those who joined manufacturing are seeing it nice to retire by now. It is those who just join this industry may have to adjust. Either change job outside the industry or resettle to Thailand or China.