Forest City

[tstar]

http://business.asiaone.com/news/higher-skilled-workers-make-bulk-layoffs

High skilled workers make up the bulk of layoffs in 2015.
43.9% are degree holders.
64% are above 40.
Manufacturing moving out and closing down.

this is not a good thing. middle aged high tech workers should be a most important asset to a company. If this trend is going on, who has the guts to borrow from bank and pay installments 30 or 40 years for a sg condo? Rather take a few years to pay off a jb house loan and retire to jb if this bad thing happens.

 

[ECboy]

http://business.asiaone.com/news/higher-skilled-workers-make-bulk-layoffs

High skilled workers make up the bulk of layoffs in 2015.
43.9% are degree holders.
64% are above 40.
Manufacturing moving out and closing down.

this is not a good thing. middle aged high tech workers should be a most important asset to a company. If this trend is going on, who has the guts to borrow from bank and pay installments 30 or 40 years for a sg condo? Rather take a few years to pay off a jb house loan and retire to jb if this bad thing happens.

Lol, first thing i saw was the photo which is my office. I see this elevator until sian already.

Employees must always strive to improve your skill sets, add value to your company and you will not be easily dispensable. Not saying you will never be laid off but you will be easily employed after that.

Never get complacent! S$15,000 salary job doesn't last forever.

 

[Zelphon]

http://business.asiaone.com/news/higher-skilled-workers-make-bulk-layoffs

High skilled workers make up the bulk of layoffs in 2015.
43.9% are degree holders.
64% are above 40.
Manufacturing moving out and closing down.

this is not a good thing. middle aged high tech workers should be a most important asset to a company. If this trend is going on, who has the guts to borrow from bank and pay installments 30 or 40 years for a sg condo? Rather take a few years to pay off a jb house loan and retire to jb if this bad thing happens.

Indeed..

I am 35 this year, working in semicon high tech as a Field Service Engineer..
Already saw this coming in my early years, that is why I opted to go into a career heavily based on skillsets..
Even so, semicon manufacturing is dying in SG..
Many fabs opening up in Korea and China..
SG cost base is too high...

Already made my exit strategy with my Princess Cove purchase for worse possible scenario...

If everything goes according to my plan, I would have fully paid up my HDB in 2018, and reach 5 yrs MOP.... enough cash to fully pay up my Princess Cove Condo..
So if I do get retrenched, my exit plan is ready for execution...

 

[Relaxman]

Indeed..

I am 35 this year, working in semicon high tech as a Field Service Engineer..
Already saw this coming in my early years, that is why I opted to go into a career heavily based on skillsets..
Even so, semicon manufacturing is dying in SG..
Many fabs opening up in Korea and China..
SG cost base is too high...

Already made my exit strategy with my Princess Cove purchase for worse possible scenario...

If everything goes according to my plan, I would have fully paid up my HDB in 2018, and reach 5 yrs MOP.... enough cash to fully pay up my Princess Cove Condo..
So if I do get retrenched, my exit plan is ready for execution...

Your plan sound good. However, you are still young. Don't keep on thinking you will be retrenched. Have faith in yourself. YOu will work until at least 55. TRust me.

 

[snowbird]

Your plan sound good. However, you are still young. Don't keep on thinking you will be retrenched. Have faith in yourself. YOu will work until at least 55. TRust me.

Hello, retrenchment is not because you are good or otherwise and no one can guarantee and be sure of anything.
While some were retrench because of company downsizing staff strength due to the economy condition, many were retrenched because the multinational they were working in decided to relocate to another country.
And currently in MY, MAS retrenched thousands because of restructuring but mainly its was for cost cutting.
And last month, PETRONAS announced that they will be trimming staff strength, due to plunging oil prices, whereby tens of thousands will be retrenched not only by PETRONAS but also from its suppliers and contractors.

 

[Relaxman]

Hello, retrenchment is not because you are good or otherwise and no one can guarantee and be sure of anything.
While some were retrench because of company downsizing staff strength due to the economy condition, many were retrenched because the multinational they were working in decided to relocate to another country.
And currently in MY, MAS retrenched thousands because of restructuring but mainly its was for cost cutting.
And last month, PETRONAS announced that they will be trimming staff strength, due to plunging oil prices, whereby tens of thousands will be retrenched not only by PETRONAS but also from its suppliers and contractors.

If you are retrenched, dont whine.... Hold your chin up and try to secure another employment. Being retrenched doesn't mean that you no longer need to work. I recalled once that a University Professor was retrenched and end up being a taxi driver. He is happy about it. This is the spirit we should have in our mind. Not crying over spilled milk.

 

[tstar]

hehe.....i think you are talking about dr c. some of my friends know him personally though i do not. maybe i am still young.

that is just one side of the story.

dr c is not a univ professor but he is indeed from standford. and he worked as a taxi driver not because he needs money..but he wants to have a new life style..see he lives in a very nice condo in the west..his salary as a cabby is far from paying his installment.

and later he published a book on his cabby life...can search online..and later he went back to beijing and work as the director of a bio company..

believe or not, he is not from an ordinary china family..his brother is a very high ranking official in china.

a prominent person like him, when retrenched, no need to work as a taxi driver lah..he is rich.. even.if work, money is not enough..just to get some new experience.

If you are retrenched, dont whine.... Hold your chin up and try to secure another employment. Being retrenched doesn't mean that you no longer need to work. I recalled once that a University Professor was retrenched and end up being a taxi driver. He is happy about it. This is the spirit we should have in our mind. Not crying over spilled milk.

 

[Relaxman]

hehe.....i think you are talking about dr c. some of my friends know him personally though i do not. maybe i am still young.

that is just one side of the story.

dr c is not a univ professor but he is indeed from standford. and he worked as a taxi driver not because he needs money..but he wants to have a new life style..see he lives in a very nice condo in the west..his salary as a cabby is far from paying his installment.

and later he published a book on his cabby life...can search online..and later he went back to beijing and work as the director of a bio company..

believe or not, he is not from an ordinary china family..his brother is a very high ranking official in china.

a prominent person like him, when retrenched, no need to work as a taxi driver lah..he is rich.. even.if work, money is not enough..just to get some new experience.

Whether my professor i referred is the same person as yours is not important. The moral of the story is when you are 35 years old, is too early for you to talk about exit plan and retirement. This only apply to those who are pessimistic. There is a chinese proverb saying "every road can lead to Rome".

 

[snowbird]

Whether my professor i referred is the same person as yours is not important. The moral of the story is when you are 35 years old, is too early for you to talk about exit plan and retirement. This only apply to those who are pessimistic. There is a chinese proverb saying "every road can lead to Rome".

Then what will the moral of the story be if you are 48 yrs old, have a family with 2 kids in still in school, outstanding housing and car loans and when the job opportunity for older people in a not too great economy climate and yet flushed with tens of thousands much younger professionals, local and foreign, seeking the same job asking for only half of your last salary?

 

[freekazoid]

Be a hawker is much better than taxi driver....

 

[Tekkun]

Then what will the moral of the story be if you are 48 yrs old, have a family with 2 kids in still in school, outstanding housing and car loans and when the job opportunity for older people in a not too great economy climate and yet flushed with tens of thousands much younger professionals, local and foreign, seeking the same job asking for only half of your last salary?

You still have at least 15 more productive years to go before retiring.
At least you guys are very lucky. You still have your HDBs. Many Malaysians do not have any and yet they make do with what they have.

Simple life with simple expectations. That's the Malaysian way of retirement.
When I was retrenched in late 80s, I took on part time and survived on RM0.50 beehoon for dinner. It went on for 2 years.
I took on any job I can find from being in real estate, insurance agent and salesman in building materials. There's no pay cut as I have nothing to cut from in the first place. Anything as good as to survive.

 

[myrsing]

You still have at least 15 more productive years to go before retiring.
At least you guys are very lucky. You still have your HDBs. Many Malaysians do not have any and yet they make do with what they have.

We will be considered lucky only if our HDB are fully paid. Dont be fool by our authority who keep harping our home are affordable.

When we are retrenched and out of job, we cant simply open up a roadside stall. We also have to compete with FTs for parttime or freelance jobs.

So i dont know whether we are lucky.

 

[Relaxman]

Then what will the moral of the story be if you are 48 yrs old, have a family with 2 kids in still in school, outstanding housing and car loans and when the job opportunity for older people in a not too great economy climate and yet flushed with tens of thousands much younger professionals, local and foreign, seeking the same job asking for only half of your last salary?

You can take a part time job while waiting to secure the next permanent job. i am sure you can find one company that will appreciate your working experience than those fresh grades. Furthermore, reduce your expected salary after you are retrenched. Start low again and if you can prove yourself in the organization, i am sure your boss will raise your salary later.

 

[enjoylife77]

As tempting as it may be, one must still wait for confirmation under which Customs Acts Forest City is governed under so as to assess the risk and benefit involved.

Forest City now sounded sibei tempting.

 

[myrsing]

You can take a part time job while waiting to secure the next permanent job. i am sure you can find one company that will appreciate your working experience than those fresh grades. Furthermore, reduce your expected salary after you are retrenched. Start low again and if you can prove yourself in the organization, i am sure your boss will raise your salary later.

I am from the banking industry. If i am retrench at age 48 yrs of age, i can forget about getting same kind of job from another bank. Unless i am a forex dealer or fund manager.

 

[Manhattan]

Forest city has launched the landed properties, anyone got details of the pricing?

Interesting to see how this place will turn out, I believe it will likely be a astounding success or an epic failure. Really has the salute those Chinese developer, always with a big bang.

 

[Relaxman]

I am from the banking industry. If i am retrench at age 48 yrs of age, i can forget about getting same kind of job from another bank. Unless i am a forex dealer or fund manager.

Have you ever try going into education? Doing part time lecturing in finance subject..... or maybe going into lower paid admin work.

 

[sgtsk]

TheEdge reported that the first duty-free shopping mall will be ready by year end at the Fisherman's Wharf on Island 1.

I suspect sooner or later, a major centre for wholesaler's market like the one in Yiwu or guangzhou would also be built in or near FC, probably replacing similar plan to build one on the east side of iskandar, near seri alam. This wholesaler centre would be targeting the Asean market, mainly, but could also be including ME.

 

[Frodo]

I wonder if the name Forest City is meant as an in-your-face to Singapore's Garden City?

 

[ECboy]

Whether my professor i referred is the same person as yours is not important. The moral of the story is when you are 35 years old, is too early for you to talk about exit plan and retirement. This only apply to those who are pessimistic. There is a chinese proverb saying "every road can lead to Rome".

You are never too young to plan for retirement, sooner is better than later. No one is gonna take care of you except for yourself.

For me I never plan to retire, I just want to achieve financial freedom before 35, but i'll still keep working/consulting/freelancing/volunteering as I like to do that.

I don't want to end up being senile at a young age :p