Thinking of consolidating retrenchment nos. in this thread. Know of a Swiss bank look after private banking customer starts to retrench bankers in early Jan 2012. Any other such news? Will have direct impact on rentals.
Thinking of consolidating retrenchment nos. in this thread. Know of a Swiss bank look after private banking customer starts to retrench bankers in early Jan 2012. Any other such news? Will have direct impact on rentals.
some banks are taking this opportunity to axe the under-achievers
A US bank with extensive network in Sg today sent out notices to staff to pack their bags with immediate effect.
MF Global SG retrench 80...heard they will be sold.
So hope for the rest of the staff.
Electronic firms looking to retrench. Nothing in a big way yet until after the New Year - when there is more visibility on demand/orders.
hmmm....am i lucky not to have any bankers/traders as my tenants?
My company is also cutting staff salaries by up to 8%. Rank and file take 5% cut, senior mgmt 8% wef from 2012. No mid-year promotion, promotions will be frozen.
which industry are u in ? why so drastic ? Civil service has more bonus this yearOriginally Posted by HP65
Civil service different performance maxtrix. In a world of their own.
Beside must give bonus what, Elections just over. Five more good years!
Originally Posted by Lovelle
Yes, a swiss bank is re-integrating its boutique private banking arm and expect to axe 500 workers.
One of the Morgan banks is moving processing functions like product control, finance to a cheaper location, so already expected some handover before taking the not so golden handshake.
Hewlett Packard?Originally Posted by Lovelle
Originally Posted by Lovelle
his nick is HP65 leh.....maybe that a good indication...
Can share the typical profiles of your tenants?Originally Posted by devilplate
lol...hp is my initial, 65 is the year I was born. Ops, say too much alreadyOriginally Posted by peterng8
Pretty and sexy lor....heheheOriginally Posted by edwinleeap
Vulnerable to midlife crisis....heheOriginally Posted by HP65
As long as you can afford it. Don't get cheated by young flesh!Originally Posted by devilplate
Especially by young flesh that was retrenched.
Originally Posted by edwinleeap
Check out the civil servants in Britain... govt scared wait later they also copy cat!!!Originally Posted by Lovelle
those in sex trade and liquor trade, no retrenchment, ask Geylang OKT..., good and times, still have demand..the sleaze and the booze....Originally Posted by devilplate
Less tips, so still affected. Also got more competition.
Only death trade unaffected by economic conditions.
Originally Posted by land118
Amd axed 50 last 2 week,
Utac retrench in October
Umc, Chrt been doing intermittently shutdown.
Even 3m also shutdown ...
Mfg Semicon in bad shape
Those in education also good. Recession period has more time to go back to upgrade themselves.Originally Posted by land118
where got chrt...long dead...now called global foundries.......many many people loose money in share mkt when it was delisted...Originally Posted by marktkt22
SCB cut some senior manager hired from Lehman. This person was making in the range of S$10M and didn't contribute to the company. So it is a performance based cut. Overall SCB is expanding in Singapore.
Thanks,
Richard
Banks like SCB, always take opportunity to hire during economic downtime, coz they always lose their staff during the good times. These 2nd tier banks (as compared to GS/MS) are anti-cyclical to some degree.
But I wld expect the French banks here to shed some staff here from next year.
Originally Posted by richwang
BNP let go quite a few last week ...Originally Posted by gn108
Societe Generale let go some this week
more to come
when Dow drop below 8000?
US n EU r cutting back their civil servants pays n govt programmes. Export demand should plunge more early next year. I expect more SMEs to retrench by mid next year. It shd b longer term recession than end 2008. On e other hand, inflation will stay high.
Oil/gold are still held very high, partly due to QE1/QE2, partly due to threat of attack on Iran .... once oil is above 100USD, COE on the rise, pay increase in the civil service, there is no way for inflation to stay low next year
China could again lower the reserve ratio of banks next month
Ride at your own risk !!!
Dexia also in trouble.
How abt the likes of Barclays and HSBC?
Originally Posted by proud owner