Chitchat Great News! More Jiakliaobees laid off!

[Pinkieslut]

 

[k1976]

 

[k1976]

https://www.asiaone.com/singapore/s...singapore-staff-across-departments-retrenched

 

[k1976]

https://www.asiaone.com/singapore/s...singapore-staff-across-departments-retrenchedAmidst layoffs in multiple countries, Samsung has reportedly retrenched staff in Singapore as well.
On Tuesday (Oct 1), staff across various departments in Samsung Electronics Singapore were called into private meetings with HR as well as their reporting managers during which they were informed of the retrenchment and their severance package details, reported Bloomberg.
Over half of the South Korean company's 267,800 employees are based overseas according to its 2024 sustainability report released in June.
In September, Samsung instructed subsidiaries worldwide to reduce sales and marketing staff by about 15 per cent, and administrative staff by up to 30 per cent, sources told Reuters then.
"Some overseas subsidiaries are conducting routine workforce adjustments to improve operational efficiency," a Samsung spokesperson said in a statement to Bloomberg.
"The company has not set a target number for any particular positions."
Samsung has plans to lay off over 200 executives in India, about nine to 10 per cent of its total managerial workforce in the country, reported The Economic Times in September.
It is reportedly trimming about 10 per cent of jobs in some parts of Latin America as well, but not planning layoffs in its home market, reported Bloomberg.
Responding to AsiaOne's queries, Andy Lim, secretary-general of the Singapore Manual and Mercantile Workers' Union (SMMWU) said that although Samsung Electronics Singapore is a non-unionised company, there are workers there who are members of SMMWU, an affiliated union with the National Trades Union Congress (NTUC).
"The SMMWU is actively reaching out to these members and remains committed to supporting our members during this challenging time, where needed," he said.
Lim also encouraged affected workers to reach out the union for resources such as job placement services as well as career and skills upgrading advisory.
Affected staff can call SMMWU at 6294 2481 or email [email protected].
AsiaOne has contacted Samsung and United Workers of Electronics and Electrical Industries (UWEEI) for more information.

[COLOR=rgba(0, 0, 0, 0.85)]Dyson staff also laid off that day​

​

Household appliance giant Dyson also conducted a retrenchment exercise in Singapore on Tuesday after giving just one day notice to the UWEEI.
In a media statement on the same day, the union expressed disappointment with Dyson's conduct and stated that it has "escalated" the matter to the Ministry of Manpower (MOM).
UWEEI was dissatisfied that there was insufficient time for meaningful discussion between the union and Dyson over the retrenchment.
Even though affected workers fall outside its scope of representation under the collective agreement with Dyson, UWEEI stands ready to support affected workers, it added.
A Dyson spokesperson told The Business Times: "Dyson respectfully informed UWEEI in advance. Dyson is following all prevailing guidelines from the MOM and providing employees with the support they need, including outplacement services."
Both statements did not mention the number of workers affected.
Dyson's Singapore had reportedly received a 35 per cent boost to more than 1,920 employees in 2023.
ALSO READ: Ninja Van cuts 5% of workforce in Singapore
[email protected]
For more original AsiaOne articles, visit here.
Employment/UnemploymentjobsNTUC (National Trades Union Congress)DysonSamsungCost-cutting/RestructuringJob cuts
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[k1976]

Beijing Hyundai Denying 30% Workforce Reduction Plan Amid Facing Market Challenges​

• Editor Michael Herh
• 2024.10.01 23:18

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Beijing Hyundai's sales have plummeted dramatically since the "THAAD incident" in 2017.
Beijing Hyundai, once a dominant player in the Chinese automotive market, is reportedly planning a significant workforce restructuring amid a severe performance slump. The restructuring, rumored to involve a 30% layoff, is set to occur in two phases from September this year to February next year, according to Chinese economic news agency Caixin. However, Beijing Hyundai has denied these reports, calling them "groundless."
The company stated, "The 30% workforce layoff is not true," and emphasized its ongoing efforts to recruit specialized and young talents to bolster the export of new energy products, such as electric and hybrid vehicles.
Beijing Hyundai's sales have plummeted dramatically since the "THAAD incident" in 2017, which led to a consumer boycott in China. Once selling over 1 million units annually, the company managed to sell only around 257,000 units last year, performing worse than the startup Li Auto. This decline has pushed Beijing Hyundai into the lower ranks of the market.

 

[k1976]

The Oil Price That Matters Now Is $50 a Barrel, Not $100​

The price of crude is more likely to decline than increase in the foreseeable future.
October 2, 2024 at 5:05 PM GMT+8
By Javier Blas
Javier Blas is a Bloomberg Opinion columnist covering energy and commodities. He is coauthor of “The World for Sale: Money, Power and the Traders Who Barter the Earth’s Resources.”

Oil is more likely to trade nearer $50 a barrel than $100 for the foreseeable future.
Photographer: Sefa Ozel/E+/Getty Images
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When thinking about oil, Saudi Arabia and OPEC+, the fabled $100-a-barrel target isn’t relevant any more. In truth, it hasn’t been since June, when the cartel’s announcement of a plan to boost production effectively signaled it was abandoning its quest for triple-digit prices. Now, the reference value that matters is $50 a barrel.
First, a spoiler alert. I’m not about to predict whether that new lower level will materialize, other than warning that it’s far more possible than the market seems to think1. Instead, a general observation: All things being equal2, the oil market looks oversupplied in 2025, and that means lower rather than higher prices — so given a binary choice between $100 and $50 for next year, I’d take the latter bet despite all the Middle

 

[congo9]

All like to work from home.

 

[congo9]

Knn ..during Covid period.
1 litre of petrol costs $2.00

 

[k1976]

All like to work from home.

Wide spread Jobless...all hide at home

 

[k1976]

The ‘Big Short’ on China became the ‘Big Squeeze’ that caught Wall Street on the back foot​

Global investors, who have been shorting China, now must scramble to rebalance their portfolios to ‘a more rational level’, analyst says

Wall Street is scrambling to catch up after Beijing’s surprise stimulus onslaught set off a bull run on the Hong Kong and mainland China stock markets, catching short-sellers off guard.


China stocks will gain at least another 10 per cent in a tactical rally in the near term amid more stimulus efforts by the government, Morgan Stanley said in a note to clients on Monday. UBS, meanwhile, bumped its year-end target for the benchmark Hang Seng Index up by 7 per cent to 22,100.


Japan’s biggest brokerage Nomura similarly raised its year-end target for the MSCI China Index to 65 from 59 on the back of the measures from China and the Fed’s unexpected jumbo rate cut on September 18

 

[k1976]

China, US to hold talks on economic and trade issues, Xinhua reports​

Chinese Commerce Minister Wang Wentao attends a press conference on the sidelines of the National People's Congress (NPC), in Beijing, China, on Mar 6, 2024. (Photo: REUTERS/Tingshu Wang)
01 Oct 2024 03:49PM
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BEIJING: Chinese Commerce Minister Wang Wentao and his US counterpart will hold a call in the near future on trade and economic ties, China's state-run Xinhua news agency reported on Tuesday (Oct 1), citing people familiar with the matter.

They will exchange views on bilateral economic and trade relations and key issues of mutual concern, including restrictions on electric vehicles (EVs), Xinhua reported.
During a two-day working group meeting in Beijing last month with a US delegation, Chinese officials expressed "grave" concerns about additional US tariffs, investment restrictions, and Russia-related sanctions.

A new round of US tariffs on US$18 billion of Chinese goods including EVs, EV batteries and solar panels took effect in late September, with lithium-ion batteries bearing the brunt of the levies by value. The US imports nearly zero Chinese EVs.

 

[k1976]

China home sales slump intensified in September, before stimulus​

Published Tue, Oct 1, 2024 · 07:40 AM
China property

• Authorities are now reacting to warnings that China risks missing its economic growth target of about 5 per cent for 2024. PHOTO: BLOOMBERG
• Authorities are now reacting to warnings that China risks missing its economic growth target of about 5 per cent for 2024. PHOTO: BLOOMBERG
• Authorities are now reacting to warnings that China risks missing its economic growth target of about 5 per cent for 2024. PHOTO: BLOOMBERG
• Authorities are now reacting to warnings that China risks missing its economic growth target of about 5 per cent for 2024. PHOTO: BLOOMBERG
• Authorities are now reacting to warnings that China risks missing its economic growth target of about 5 per cent for 2024. PHOTO: BLOOMBERG

CHINA’S residential slump deepened in September before the government released a basket of measures to put a floor under the yearslong property crisis.
The value of new-home sales from the 100 biggest real estate companies fell about 37.7 per cent from a year earlier to 251.7 billion yuan (S$46 billion), faster than the 26.8 per cent decline in August, according to preliminary data from China Real Estate Information. Transactions gained 0.2 per cent from August.
The weak data underscore why China’s Politburo last week made its most determined pledge yet to stabilise the real estate sector. Three of China’s so-called tier-1 cities swiftly followed through over the weekend by relaxing rules for homebuying, with Beijing joining in on Monday (Sep 30). The People’s Bank of China also allowed refinancing of as much as US$5.3 trillion of existing mortgages for millions of families.

 

[k1976]

Us talk to China on Trade....lai lah, dun sell hypersonic missile to Iran, we will buy 1000000 BYDs lah, kym Cik SYED?

Next step....Ukraine will be make concession to Russia, so that Russia can ban hypersonic weapon sale and compensate by oil export again

 

[k1976]

After the October 1 attack, Iran's Revolutionary Guards claimed a 90 percent success rate for their projectiles but both Israel and the United States reported that their forces collaborated to intercept and shoot down the majority of the missiles launched by Iran.

Global adaption on hypersonic missiles

Numerous countries are actively developing hypersonic weapons to gain a military edge, though they encounter significant technical challenges. For instance, the extreme temperatures generated by atmospheric friction and the superheated particles surrounding the missile complicate radio communications.

So far, Russia and China have showcased a range of hypersonic weapons, with Russia being the only country confirmed to have used them in combat. The United States has conducted tests but lags behind its competitors. Iran's Fattah-1 missile boasts a range of 1,400 kilometers (870 miles) and can reach speeds up to Mach 15 (5.1 km or 3.2 miles per second). It features a movable secondary nozzle and solid propellants, enhancing its maneuverability and purportedly enabling it to evade missile defense systems.

West's 'skepticism' of Iran's hypersonic missiles

Iranian officials had, in 2023, downplayed Western skepticism regarding their hypersonic missile capabilities, asserting that true evidence of their effectiveness will emerge when these weapons are used. Following the Fattah missile's unveiling, the US had imposed additional sanctions targeting Iran's ballistic missile program.

 

[k1976]

 

[k1976]

 

[k1976]

China Should Get Serious About Peace in Ukraine​

Facts on the ground are trending toward Beijing’s preferred outcome. Now it needs a more credible proposal.
October 2, 2024 at 3:00 AM GMT+8
By Minxin Pei
Minxin Pei is professor of government at Claremont McKenna College and author of "The Sentinel State: Surveillance and the Survival of Dictatorship in China."

The war in the east is a grind.
Photographer: Genya Savilov/AFP/Getty Images
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US officials have dismissed China’s latest attempt to play peacemaker in Ukraine as insincere and inadequate. They have a point: China continues to supply the machine tools and microelectronics that allow Russian President Vladimir Putin to replenish his war machine and keep gobbling up Ukrainian territory.

But prospects for China to play a more productive role in ending the fighting are growing. Beijing ought to be positioning itself for that moment.
Before it’s here, it’s on the Bloomberg

 

[congo9]

Wide spread Jobless...all hide at home

The PAP Ftards won't miss any single timing to add to your costs of living, even when you are jobless.
Remember that.
Remember all those massive reserve inside GIC are from your blood and sweat !

 

[congo9]

After the October 1 attack, Iran's Revolutionary Guards claimed a 90 percent success rate for their projectiles but both Israel and the United States reported that their forces collaborated to intercept and shoot down the majority of the missiles launched by Iran.

Global adaption on hypersonic missiles

Numerous countries are actively developing hypersonic weapons to gain a military edge, though they encounter significant technical challenges. For instance, the extreme temperatures generated by atmospheric friction and the superheated particles surrounding the missile complicate radio communications.

So far, Russia and China have showcased a range of hypersonic weapons, with Russia being the only country confirmed to have used them in combat. The United States has conducted tests but lags behind its competitors. Iran's Fattah-1 missile boasts a range of 1,400 kilometers (870 miles) and can reach speeds up to Mach 15 (5.1 km or 3.2 miles per second). It features a movable secondary nozzle and solid propellants, enhancing its maneuverability and purportedly enabling it to evade missile defense systems.

West's 'skepticism' of Iran's hypersonic missiles

Iranian officials had, in 2023, downplayed Western skepticism regarding their hypersonic missile capabilities, asserting that true evidence of their effectiveness will emerge when these weapons are used. Following the Fattah missile's unveiling, the US had imposed additional sanctions targeting Iran's ballistic missile program.

This iran soldier are just kept at home, make people scared of them.
The only fighting force is only the elite force.
The US American fought so many conflict and those who can fight are the Special forces.
Think about Iran, how many can really take real fighting ?
You need modern technology to back up your battle on ground too. Support fire, air force to roam the air space and prevent incoming artillery and drones. Talk about your hyper missile. Show me some of it !
US for all it's might do not claim such stuff.

Looks like Iran has caught up with China using mouth to fight battles.

 

[sbfuncle]

All the ceos finally received my message that a company doesn't need so many staffs lol
Way to go...
I dare to say At least 90% of the entire workforce in sg (and worldwide) are redundant.