Serious Sembcorp retrenches 8,000 jobs, just like Keppel, PMETs beg for mercy

[EnBloc]

SINGAPORE - Singapore's Sembcorp Marine Ltd swung to a loss in the third quarter and the rig builder's revenue was hurt by customers deferring rig deliveries amid a protracted downturn in the oil and natural gas market.

Chief executive Wong Weng Sun also said that the firm had "terminated less efficient sub-contractors and allowed for natural attrition of our employees", resulting in a reduction of about 8,000, The Straits Times reported.

The company posted a net loss of S$21.8 million for the three months ended Sept. 30, compared with a net profit of S$32.1 million a year ago. It said the bottomline was hurt by higher financing costs, share of losses from associates and foreign exchange impact

http://business.asiaone.com/news/sembcorp-marine-swings-loss-q3-slashes-jobs

 

[Leckmichamarsch]

good chance to turnover sgian with f trashes.............. huat ah
& govt will blame mismatch or NO futureskills............................... first LSS, then Ong, then LHL, Tharman & MAS - just spinning yarn

 

[thinkorsink]

may i ask if there is any bright spot in shipping industry? i have a very boastful friend always advertising looking for staff in jobsbank via WDA. he is in bunkerage, are they not affected? any bros in shipping can shed a light?

 

[eatshitndie]

may i ask if there is any bright spot in shipping industry? i have a very boastful friend always advertising looking for staff in jobsbank via WDA. he is in bunkerage, are they not affected? any bros in shipping can shed a light?

may be he meant "bonkerage". bonkerage is recession proof.

 

[frenchbriefs]

may i ask if there is any bright spot in shipping industry? i have a very boastful friend always advertising looking for staff in jobsbank via WDA. he is in bunkerage, are they not affected? any bros in shipping can shed a light?

How much is he paying?got 5k a month?

 

[JohnTan]

Two of my ah pu neh neh workers offered to come to work on Monday following their keling kia day this saturday. The recession must be that bad that they are willing to forgo their day-off in order to suck my cock.

 

[batman1]

More good news for sinkees !
The Singapore economy is going down the drain.
More and more retrenchments coming.
Yes,they will tell u go to e2i for retraining and reskilling until u die also got no job for u.
Mismatch of skills ? More like no porlumpar skills. LOL...

 

[borom]

Things were made worst by both SM and Keppel's overexposure to Sete Brasil, whose only client is Petrobras.

Any new credit officer fresh from university will tell you not to lend/exposed to a customer with only ONE client!
But then we boast of so called world class universities filled with world class talents on scholarships
from China and India-these talents no help at all?

SM and Keppel must have been swayed by the Brazilian government's direct/indirect ownership of 64 percent of the company-in which case they fail miserably in their country risk assessment!

No in depth coverage/analysis by the MSM/ST of the losses of billions at the cost of thousands of jobs by these 2 GLC's, nobody publicly held accountable (as far as I know) and of course the govt ministers still are the highest paid in the world!

Where else can you lose billions of dollars and thousands of jobs and still not be held accountable -of course thanks to the 70%.

 

[batman1]

Since the economy is crashing down the drain.
We demand the ministers' salaries to be cut by 90% for poor and inept performance !!!

 

[garlic]

Perhaps been a month since u last spoke with him? He might be looking at jobsbank for new job liao.

may i ask if there is any bright spot in shipping industry? i have a very boastful friend always advertising looking for staff in jobsbank via WDA. he is in bunkerage, are they not affected? any bros in shipping can shed a light?

 

[lifeafter41]

SINGAPORE - Singapore's Sembcorp Marine Ltd swung to a loss in the third quarter and the rig builder's revenue was hurt by customers deferring rig deliveries amid a protracted downturn in the oil and natural gas market.

Chief executive Wong Weng Sun also said that the firm had "terminated less efficient sub-contractors and allowed for natural attrition of our employees", resulting in a reduction of about 8,000, The Straits Times reported.

The company posted a net loss of S$21.8 million for the three months ended Sept. 30, compared with a net profit of S$32.1 million a year ago. It said the bottomline was hurt by higher financing costs, share of losses from associates and foreign exchange impact

http://business.asiaone.com/news/sembcorp-marine-swings-loss-q3-slashes-jobs

Cannot be lah.....
COE still at 50k and above....
DTF still long queues......
Year end holidays coming....people still planning overseas trip to Japan, Australia, USA...

Where got no good........
Mai spread fear hor.....

 

[EnBloc]

Cannot be lah.....
COE still at 50k and above....
DTF still long queues......
Year end holidays coming....people still planning overseas trip to Japan, Australia, USA...

Where got no good........
Mai spread fear hor.....

These are the smart people who listened to Manpower Minister Lim Swee Say and Labour Leader Chan Chun Sing.

They used their SkillsFuture grant to retrain, reskill and upgrade themselves so that they can be re-employed and can continue to pay down the mortgage and the COE, with some balance left to fly Tiger to Australia.

If not for solid leadership by our government and labour movement, they would continue to suffer from MISMATCH of jobs and skills.

 

[Einfield]

They will change their pay calculation, it no longer peg to GDP and top professionals but an undisclosed basket of GDP from a few countries of their choice, That way even if SG GDP tanked, they can still have a pay rise. Do not underestimate their creativity when it come to promoting their own interest.

Since the economy is crashing down the drain.
We demand the ministers' salaries to be cut by 90% for poor and inept performance !!!

 

[johnny333]

The PAP knew of all the bad news that is why they held early elections. So what about the next GE

Things are probably going to get worse before they improve. If they improve that is?

With the PAP's policy of importing more cheap foreigners there won't be enough jobs for the current "older" Sporeans who have to pay for their mortgages & car loans.

This is probably why LHL is thinking of getting a new "seat warmer". He probably intends to lead Spore from behind this human shield

 

[Pinkieslut]

You give too much credit to Sinkie Intelligence and Courage. Early election or not, PAP will still be the winner. Sinkies have been reduced to a bunch of helpless lemmings begging for hand outs. The oppositions are too disorganised and lack ambitions to actually run the country.

The PAP knew of all the bad news that is why they held early elections. So what about the next GE

Things are probably going to get worse before they improve. If they improve that is?

With the PAP's policy of importing more cheap foreigners there won't be enough jobs for the current "older" Sporeans who have to pay for their mortgages & car loans.

This is probably why LHL is thinking of getting a new "seat warmer". He probably intends to lead Spore from behind this human shield

 

[mojito]

Crawling on bended knees yet? If not, it not begging. Relax.

 

[thinkorsink]

Argh PTUI...!

 

[johnny333]

You give too much credit to Sinkie Intelligence and Courage. Early election or not, PAP will still be the winner. Sinkies have been reduced to a bunch of helpless lemmings begging for hand outs. The oppositions are too disorganised and lack ambitions to actually run the country.

Nothing to do with intelligence or courage. There's nothing like desperation & self survival that will motivate the 70%. Wait until the next GE & after being out of a job for a couple of years many of them will rethink their position on supporting the PAP.

 

[frenchbriefs]

The PAP knew of all the bad news that is why they held early elections. So what about the next GE

Things are probably going to get worse before they improve. If they improve that is?

With the PAP's policy of importing more cheap foreigners there won't be enough jobs for the current "older" Sporeans who have to pay for their mortgages & car loans.

This is probably why LHL is thinking of getting a new "seat warmer". He probably intends to lead Spore from behind this human shield

if sinkies knew about the bad news they would vote for PAP even harder,PAP would have a overwhelming victory of 90 percent believers and converts.in times of uncertainty people would flee to the harbour and territory they know best,like bonds and gold during a financial crash.PAP is like a safety blanket and pacifier,only the strongest of mind would be unswayed by the noise and continue trading/investing/playing poker as per usual.