Retrenched............

[hbk75]

Blame the banks for giving out credit cards with freebies attached like toilet paper, and sinkies being greedy people famous for lining up for anything free, sure will not refuse to spend and spend until it cannot be swiped.

To hold and use a credit card is to become a slave to that card. Temptation to use and flaunt it is mighty strong. Only bankruptcy will wake up the card holder.

hope one of the local bank will kenna bad debts and belly up like lehman bro. this will teach them not to loan out too much money.

 

[OrLanChowHorFun]

haven't heard of retrenchment but there are shorter work weeks, another friend also 20% pay cut. both are from amercian manufacturing.

those in manufacturing are doomed.............SGD too strong plus everything so expensive here...........commercial vehicles should be free of ERP and COE..........

 

[extramarital]

it is really sad that this is a plastic world we live in. Once i was driving my porsche boxster out to meet a friend and there was this young girl (probably below 5 yrs old) already looking who is the guy driving this sports car and pointing to her mother...another instance was when i drove to jb for seafood and went for car wash, immediately get priority treatment when there are a line of cars waiting to be washed. Every where you go, people only see you on the outside....but how you manage to pay for it, they wont know. Thats the world we live in.

Those are priceless experiences. For everything else there's MasterCard.

 

[THE_CHANSTER]

What's with the constant whinging about retenchment and unemployment?

Anyone with an once of common sense would set up their own business and be their own boss.
The problem with us Sinkies is that we lack the entrepreneurial spirits that many of our forefathers possessed.

 

[bushtucker]

There's always this to fall back upon http://www.sammyboy.com/showthread.php?218566-He-earns-4-000-a-month-doing-your-grocery-shopping

i agree. go do household chores for other people. there will always be lazy, busy or rich sinkies who can't do household chores.

 

[bushtucker]

SMRT short of engineers. I am sure he has nothing to worry about.

STEE too. TS's friend should have joined a GLC much earlier.

 

[Reddog]

Times are bad.........
A friend working in a SME are going for 4 days week.....kena asked to take leave, those without leave, asked to take unpaid leave, maybe 2 to 3 months it will last depending on the situation.
Another friend, an engineer, pay cut, 20%.....MNC. If slow down continues, maybe pink slip by year end. He is very worried as he is sole breadwinner, with 2 children still in secondary school.

Anybody here knows somebody that has been retrenched recently.......
Understand job market is bad too.
Was having dim sum today and noticed the crowd are pretty thin......sianz.....

Be happy since the majority of Singaporeans (69.9%) want the PAP to bring in hundreds of thousands of foreigners to take away Singaporean jobs. A fact ... please refer to GE2015 result.

 

[Reddog]

Of course, the PAP lah.

So, PAP now has to deliver on the many promises it made to sinkees.

To pay for those expenditure (vote buying), be prepared for :

1) GST increase (12%)
2) HDB hourly and season parking increase; private carpark tax to increase.

 

[syed putra]

Its the Swiss standard of living, there is no welfare in Switzerland and medical covered by health insurance. No job, no insurance and got health issues, you go to mountain and freeze yourself to death.

 

[Wunderfool]

Retrenched is not a dirty word ... in a globalized world where jobs can move from one place to another because of lower costs and competition, retrenchment is the norm in an ever-changing economy.

Seen from a global perspective, we can be mobile too if we want to.


The world is my oyster. If the mountain doesn't come to me , I will go to the mountain.

 

[eatshitndie]

in the u.s., for employess who are old and near retirement, it's a blessing and long-awaited event. companies prefer employees to resign or leave without a severance package. laying off employees cost money, and public listed companies would factor that cost in the next quarter financial reporting or year-end balance sheet. for some companies which still honor tenure or number of years employees have worked they would pay out the severance package based on remaining leave hours accrued plus number of paid days or weeks per years worked. a lucky laid off employee can have 6 months to 1 year of pay in advance upon severance. less lucky ones have 2 weeks to a month. for those who should have retired but cannot decide on doing so or simply refuse to face the inevitability may welcum the news as someone else is making the decision for him or her.

 

[krafty]

Local SME, engineering firm........

be a banker is the hot thing now, i got engineering friend in Msc in chemistry working as a banker. but banks want young and fresh blood. dun miss the boat, friends...

 

[Leckmichamarsch]

To pay for those expenditure (vote buying), be prepared for :

1) GST increase (12%)
2) HDB hourly and season parking increase; private carpark tax to increase.

already LTA catching motorists with cameras

 

[Cerebral]

be a banker is the hot thing now, i got engineering friend in Msc in chemistry working as a banker. but banks want young and fresh blood. dun miss the boat, friends...

Banks are sinking at the moment.... dont think it will be lucrative in the short term

 

[Wunderfool]

Anyone here got retrenched before and picked your way back up again ? Can share learning points on your experience? Good for forummers who might be facing challenging times ahead.

Even PM Lee warned us to prepare for tough times ahead .... but talk is pointless when the axe comes down on our heads but not his.

 

[frenchbriefs]

most daft and stupid sinkies dont understand that Money rules this world,not meritocracy,not democracy not communism or anything but MONEY(plutocracy).HE who has the gold makes the rules just like the british are sucking China's cock now.

most of them think that if they study hard and get a good job and work hard and focus on their career and get promotions and raises be good employees and good doggies to their bosses or companies,they would get thru life relatively unscathed,but little do they know that they are merely working their lives to pay off their liabilities and according to robert kiyosaki's cash flow quadrants,this is how the middle class remain middle class and how the poor remains in the cycle of poverty.because they spend their lives accumulating liabilities and paying off debts and mortgages rather than accumulating assets and passive income.

in this day and age there is no such thing as not being redundant,how many daft and stupid sinkies go through life thinking they can someone scrape by in life knowing only one job and learning only one skill set and someone manage to stay relevant in the job market for 20 or 30 years?everybody is redundant except for those at the very top.if my company decides one day that we are going to choose between saving the company 3 billion dollars and boosting the stock price by 5 percent or saving 5000 jobs,can u guess what the company or ceo and board of directors is going to do?it doesnt matter if u are just a lowly worker on the floor,it doesnt matter if u are a middle manager in the sales department earning 120k p.a,it doesnt matter if u are the vice president of the logistic and manufacturing arm and u were my friend for 20 years and have been with me and the company from the start,u gotta go means u gotta go.go and watch the movie the company men.and after u are fired what are you going to do?lock urself in the garage and gas urself?or drive taxi like krafti and commit suicide at east coast park.east coast park is a ideal location for commiting suicide,quiet,isolated,lonely,peaceful.

sinkies should be focusing on getting rich and becoming wealthy,be a capitalist and not a slave to capitalism.some people might say the rich worry all the time about losing their wealth,becoming bankrupt and losing it all.but how is it any different from 80 percent of the masses who wake up everyday,board the overcrowded mrt and go to work everyday like a good doggie.kissing the asses of their ft infested workplace and bosses,because of their ultimate fear...that they will lose their jobs and lose it all.downgrade from a condo to a hdb,or downgrade from a 5 room to a 3 room and ur wives have to become maids and daughters prostitutes?u guys are slaves to the matrix until u wake up and learn to embrace capitalism and robert kiyosaki.

 

[lifeafter41]

cashflow of poor vs middle class vs wealthy.

im probably richer than ur friend,im in my twenties with little or no liabitlities.while ur friend has two kids,a wife and mortgage and credit cards and car loan and utilities to pay.

Jack Ma: If you’re still poor at 35, you deserve it!

ur friend is clearly one of the fucktards 70 percent,hope PAP and SG50 and FTs give ur loser friend a good fucking through and through.cmon FTs retrench more fucktard sinkies!!!

Frenchbriefs, since you are in your 20s, my guess if you have just started working or maybe you are your own boss now. Nevertheless, unless you plan to be single, settling down and having kids is part of it though not the only path, as some of the forum have shown.

It's good to know that you have a very specific direction or goals with regards to wealth accumulation.

On this friend, no he does not own a car and home is a modest 4 room flat, as for credit cards or whether if there is other debts I am not sure of though. His only concerns is the kids are still young and if kena the pink slip, there will be problem with the finances.

 

[Narong Wongwan]

it is really sad that this is a plastic world we live in. Once i was driving my porsche boxster out to meet a friend and there was this young girl (probably below 5 yrs old) already looking who is the guy driving this sports car and pointing to her mother...another instance was when i drove to jb for seafood and went for car wash, immediately get priority treatment when there are a line of cars waiting to be washed. Every where you go, people only see you on the outside....but how you manage to pay for it, they wont know. Thats the world we live in.

Chinks articulate this the best.
笑贫不笑娼

 

[frenchbriefs]

Frenchbriefs, since you are in your 20s, my guess if you have just started working or maybe you are your own boss now. Nevertheless, unless you plan to be single, settling down and having kids is part of it though not the only path, as some of the forum have shown.

It's good to know that you have a very specific direction or goals with regards to wealth accumulation.

On this friend, no he does not own a car and home is a modest 4 room flat, as for credit cards or whether if there is other debts I am not sure of though. His only concerns is the kids are still young and if kena the pink slip, there will be problem with the finances.

that is very jialat my friend,if u read salary.sg. forums,a middle age man in this day and age in the 21st century in singapore with only a 4 room flat to his name and little or no cash and investible assets is doing poorly below average(these are mostly peasant sinkies whereby husband and wife are civil servants or work in the government or teacher or something.a somewhat above average achiever should roughly be staying in a condo(with less than 400k mortgage) at least or in a hdb flat with 300k to 400k in stocks and cash and a net worth of 600 to 800k in his thirties.forties we should be looking at at least two properties and networth of 1 to 2 million on average.this are the relatively "successful" sinkies.

of course since he lives in a 4 room flat and owns no car,he should be pretty close to peasantry or pauperhood and should not be too uncomfortable adjusting to poverty should he be retrenched.lets hope he hasnt pampered his children too much.i come from a single parent family,and i can remember those early days of poverty.disgusting brown rice with worms in it,and barely any meat perhaps once a week.if we were lucky we get some disgusting pig skin from the butcher,just the skin and none of the fat or the meat.it was like eating rubber.on our birthdays we would get frozen fish nuggets.i thought my guardian was trying to kill us by making us vegetarian or something like tonyfag.

what is ur friend's monthly expenses?how many months can he survive if he gets retrenched?

 

[lifeafter41]

that is very jialat my friend,if u read salary.sg. forums,a middle age man in this day and age in the 21st century in singapore with only a 4 room flat to his name and little or no cash and investible assets is doing poorly below average(these are mostly peasant sinkies whereby husband and wife are civil servants or work in the government or teacher or something.a somewhat above average achiever should roughly be staying in a condo(with less than 400k mortgage) at least or in a hdb flat with 300k to 400k in stocks and cash and a net worth of 600 to 800k in his thirties.forties we should be looking at at least two properties and networth of 1 to 2 million on average.this are the relatively "successful" sinkies.

of course since he lives in a 4 room flat and owns no car,he should be pretty close to peasantry or pauperhood and should not be too uncomfortable adjusting to poverty should he be retrenched.lets hope he hasnt pampered his children too much.i come from a single parent family,and i can remember those early days of poverty.disgusting brown rice with worms in it,and barely any meat perhaps once a week.if we were lucky we get some disgusting pig skin from the butcher,just the skin and none of the fat or the meat.it was like eating rubber.on our birthdays we would get frozen fish nuggets.i thought my guardian was trying to kill us by making us vegetarian or something like tonyfag.

what is ur friend's monthly expenses?how many months can he survive if he gets retrenched?

Hi is in his early forties, with hdb fully paid. But with not much savings as the wife is a homemaker looking after the kids. It's not easy if it's single income with family commitments, especially in Singapore. In fact, recall talking to him many years back when he was settling down if it's a good idea to depend on only single income. But he did mentioned that they are good with it, having discussed with the wifey.

My guess is he did not see it coming as you get older and the kids get older, expenses increase, salary stagnate if you are just a working guy drawing a salary. Couple with the fact also got o take care of aged parents is another expenses.

His kids are now in secondary school and I believe as it progresses to JC and Uni, it's going to get worse.

I am not so clear about his expenses but on savings he did mentioned the most it will last 6 months, thereafter...... It's anybody guess.