<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Labour chief disappointed by sudden layoffs at DBS
</TR><!-- headline one : end --><TR>He criticises bank for failing to consult union or try other options first </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Sue-Ann Chia, Senior Political Correspondent
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PHOTO: THE NEW PAPER
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<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->LABOUR chief Lim Swee Say has criticised DBS Bank for failing to consult its staff union before retrenching workers and for not exploring other cost-cutting measures first.
'We are disappointed by the sudden decision,' he said yesterday, adding that the lack of communication has weakened the trust between its management and the union.
'There was no prior consultation with the DBS staff union. There was no exploration with the union on other cost reduction alternatives.
'It is regrettable because trust takes a long time to build but a short time to destroy.'
=> So? Can the AntiUSee and MOM do anything about it? Despite being the BEST PAID in the world?
Mr Lim, secretary-general of the National Trades Union Congress (NTUC) and adviser to the DBS union, responded by e-mail to queries from The Straits Times. He later released his reply to other media.
His uncharacteristically strong remarks came as the bank carried out Day 2 of its retrenchment exercise. In all, 900 employees will go, slightly more than half from Singapore and the rest from Hong Kong.
=> 600 from Peesai = slightly more than half?
The move has drawn flak from the public as being pre-emptive rather than reactive. Sharing that sentiment, Mr Lim said: 'Perception on the ground is that DBS has decided on retrenchment as the first resort. Ground reaction is critical and highly negative.'
He emphasised that the NTUC was not stubbornly opposed to retrenchment, preferring only that companies cut jobs as a last resort.
'We do not demand zero retrenchment because we know full well that at times, it is better to let go of some workers so that the remaining workers can survive and keep their jobs, than for the business to be closed down and for all workers to lose their jobs,' he said.
'However, we do not support retrenchment as the first resort because there are alternatives for us to explore together to reduce costs and save jobs - from a flexible wage system to flexible work arrangements.' He also cited, among others, implementing a shorter work week and paying less bonus.
DBS announced its retrenchment plan a week ago, after reporting that its third-quarter net profits had dropped 38 per cent from a year ago to $379 million.
It said the layoffs would help streamline and restructure the company as it battled the effects of the global financial crisis.
The 900 affected staff make up 6 per cent of the bank's 15,000-strong workforce in 16 economies.
Staff union president Nora Kang said yesterday that the bank told her of the decision just three days before it was made public.
'I asked them: 'Why so sudden? Why such short notice?'
=> Cos 1 Familee rule?
They explained it was a very last-minute decision and not an easy one to make,' she said.
What DBS did, she added, went against the usual practice of management giving unions a month's advance notice of mass layoffs.
The short notice also meant there was no room for her to negotiate for other cost-cutting options to be considered. 'I'm disappointed with the management, but I have to focus now on helping the retrenched workers,' she said.
Mr Lim said the bank management had responded positively to a request for training grants to help arm the affected workers with new skills for jobs in growth sectors. [email protected]
</TR><!-- headline one : end --><TR>He criticises bank for failing to consult union or try other options first </TR><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Sue-Ann Chia, Senior Political Correspondent
</TD></TR><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
PHOTO: THE NEW PAPER
</TD></TR></TBODY></TABLE>
<TABLE><TBODY><TR><TD>
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"--><!-- more than 4 paragraphs -->LABOUR chief Lim Swee Say has criticised DBS Bank for failing to consult its staff union before retrenching workers and for not exploring other cost-cutting measures first.
'We are disappointed by the sudden decision,' he said yesterday, adding that the lack of communication has weakened the trust between its management and the union.
'There was no prior consultation with the DBS staff union. There was no exploration with the union on other cost reduction alternatives.
'It is regrettable because trust takes a long time to build but a short time to destroy.'
=> So? Can the AntiUSee and MOM do anything about it? Despite being the BEST PAID in the world?
Mr Lim, secretary-general of the National Trades Union Congress (NTUC) and adviser to the DBS union, responded by e-mail to queries from The Straits Times. He later released his reply to other media.
His uncharacteristically strong remarks came as the bank carried out Day 2 of its retrenchment exercise. In all, 900 employees will go, slightly more than half from Singapore and the rest from Hong Kong.
=> 600 from Peesai = slightly more than half?
The move has drawn flak from the public as being pre-emptive rather than reactive. Sharing that sentiment, Mr Lim said: 'Perception on the ground is that DBS has decided on retrenchment as the first resort. Ground reaction is critical and highly negative.'
He emphasised that the NTUC was not stubbornly opposed to retrenchment, preferring only that companies cut jobs as a last resort.
'We do not demand zero retrenchment because we know full well that at times, it is better to let go of some workers so that the remaining workers can survive and keep their jobs, than for the business to be closed down and for all workers to lose their jobs,' he said.
'However, we do not support retrenchment as the first resort because there are alternatives for us to explore together to reduce costs and save jobs - from a flexible wage system to flexible work arrangements.' He also cited, among others, implementing a shorter work week and paying less bonus.
DBS announced its retrenchment plan a week ago, after reporting that its third-quarter net profits had dropped 38 per cent from a year ago to $379 million.
It said the layoffs would help streamline and restructure the company as it battled the effects of the global financial crisis.
The 900 affected staff make up 6 per cent of the bank's 15,000-strong workforce in 16 economies.
Staff union president Nora Kang said yesterday that the bank told her of the decision just three days before it was made public.
'I asked them: 'Why so sudden? Why such short notice?'
=> Cos 1 Familee rule?
They explained it was a very last-minute decision and not an easy one to make,' she said.
What DBS did, she added, went against the usual practice of management giving unions a month's advance notice of mass layoffs.
The short notice also meant there was no room for her to negotiate for other cost-cutting options to be considered. 'I'm disappointed with the management, but I have to focus now on helping the retrenched workers,' she said.
Mr Lim said the bank management had responded positively to a request for training grants to help arm the affected workers with new skills for jobs in growth sectors. [email protected]
