Retrenchments are coming thick and fast

Despite the JSS, retrenchments are coming thick and fast.

In effect, all JSS did was delay the inevitable retrenchment, especially for companies in the airline and tourism industries.

In the process, millions of taxpayers dollars have been wasted. Had the employees been retrenched earlier, they could have used the last few months discovering new opportunities. Instead, they probably spent the time in limbo and worrying if their jobs were secure.

Likewise, the employers could have moved on earlier but instead were given a glimmer of false hope by the JSS.

Alas, in the end, it would have been better for all to have cut their losses earlier. In these instances, JSS did more harm than good.

There are now calls to extend the JSS and cut employers contribution of CPF because businesses are still bleeding.

Please, stop being in denial. C19 would take years to clear. Even when it clears, another pandemic is around the corner because global warming is disrupting the way of life of animals big and small which increases the chances of another pandemic.

Let businesses adapt or perish to the new reality, instead of trying to save the status quo.

 

Foong Swee Fong

 

 

yyy
SPONSORED ADVERTISEMENT
Loading...

30 Responses to “Retrenchments are coming thick and fast”

  • Billy ma:

    The voting out of the ntuc chief maybe more useful than expected.

    If he’s just a PAP minister cum ntuc chief, he would not be so free to personally handle the Eagles retrenchment case.
    He’ll be like all PAP ministers post election, take things easy & in case problems occur, just blame somebody or something.

    But now NG has to really do some meaningful works, unlike pre-election he has to impress voters rather than just lhl.

    Singaporeans should bear this in mind when you want a PAP minister to really work for you is to vote him her out.

    I’m sure HENG will be working harder than ever before.

    GD Star Rating
    loading...
  • xoxo:

    So,again,the PAPy$ will say we have had NO HINDSIGHT to rely on.
    If WE had BENEFIT OF HINDSIGHT,WE wouldnt have LOOT $100 BILLION and squandered on JSS that still leads to RETRENCHMENT.
    ITS A LPPL action???
    Sorry ah,sgs,JOBLESS N RETIREES,NOW WE HAVE TO INCREASE GST to PLUG THE BIG HOLE!

    THE COVID could have been applied as a way of NATURAL ATTRITION for UNPRODUCTIVE FTs to help companies CUT COSTS,and,leaving MOSTLY SGS TO DO THE JOBS N EVEN DOUBLE UP TILL COVID RESOVLES?

    THAT WAY,NO NEED TO LOOT RESERVES AND STILL SEE SGS GETTING RETRENCHED?

    NO BENEFIT OF HINDSIGHT,LAWRWNCE?
    THRN,YOU SHUD STEP DOWN N LET OTHER MIRE ABLE SGS TAKE OVER.

    SEE,YOU CONFIRM OUR OPINION THAT YOU ARE ALL BOT WORTH THE MILLIONS YOU ARE PAID!!!

    GD Star Rating
    loading...
  • xoxo:

    Not just this BIGLY $100 IS GETTING WASTED,MANY MIRE BILLIONS TOO!
    With SUDDEN SURGE IN POPULATION HERE IN tiny sg,INFRA-STRTURAL COSTS had been overtly expended just so to ACCOMIDATE THIS RECKLESS DUMPING OF ALIEN$ here.

    If and when things do not PICK UP as meaningfully as thought( cause NO BENEFIT OF HINDSIGHT),such humongous PUBLIC EXPENDITURES would come to naught!

    GOOD GOVERNANCE REQUIRES FORESIGHT AND TRULY GOOD GAHMEN DO N MUST POSSESS FORESIGHT!

    DONT BLAME sgs FOR XENOPHOBIA later on if FTs start an EXODUS to other regional countries as THE GRA$$ BEGIN TO LOOK GREENER elsewhere?

    Dont blame the elements and DONT BLAME GOD!

    BLAME YOUR *OWN$elves* for LACKIN FORESIGHT.

    GD Star Rating
    loading...
  • xoxo:

    And,BTW,i cant stress this enough.

    LKY,our recevered LEADER N HIS COLLEAGUES were MODEST PEOPLE and THEY DID NOT CARE FOR POMPOUS THINGS.
    EVen AN EXPENSIVE TENTAGE AT HIS WARD FOR SOME CONSTITUENCY EVENT WAS FROWNED AT BY HIM.
    SO,PLS DONT SQUANDER A FEW MORE BILLIONS ON A POSH MAUSOLEUM WHICH LKY DIDNT CARE FOR?!

    THE RECURRENT OPERATING COSTS WOULD BE A BURDEN TO TAXPAYERS IN FUTURE???

    GD Star Rating
    loading...
  • xoxo:

    There SHID BE AN OFFICIAL COMPARATIVE CROSS-BORDERS ANALYSIS OF GOVT SPENDING ON JOBS-SAVING SCHEMES sinilar to our JSS ON THE AMOUNT PER CAPITA SPENT.

    TAKE USA,USD1 TRILLION,so far.
    And,SG,$100 BOLLION( USD 72.5 BILLION).

    USA POPULATION= 328 MILLION.
    SG POPULATION= 5.6 MILLION.

    USA SPENDS USD 3048 PER CAPITA ON JSS
    SG SPENDS USD 12 946 PER CAPITA ON JSS?

    GO FIGURE YOURSELVES????

    GD Star Rating
    loading...
  • xoxo:

    Also,the JOBLESS AMERICANS have been receiving USD 600 PER WEEK FOR LAST FEW MONTHS AND JOBLESS SGS ONLY GET A ONCE-OFF SGD 600 (USD 435)?
    Why not MSM DO A COMPARATIVE STUDY?³

    GD Star Rating
    loading...
  • xoxo:

    And,just for info,ACCORDING TO UNCTAD’S GLOBAL FOREIGN DIRECT INVESTMENTS FLOWS REPORT,TOTAL FDI IN SG IS USD 92 BILLION AS OF 2020.

    OUT JSS COSTS US USD 73 BILLION,thus far.

    I wonder if HSK will loot more,mire n moar!!!

    GD Star Rating
    loading...
  • xoxo:

    More *PANDEMICS* AWAIT THE WORLD EVEN IF HUMANITY SURVIVES THIS COVID IF THE RICH N POWERFOOL$ DONT BEGIN TO SHARE AGAIN.

    GREED IS NO GOOD,like it or not.

    GD Star Rating
    loading...
  • Gin:

    It was not to save anyone’s job.

    It was to get a ‘strong mandate’…
    All 93 Billion was to buy time and votes…
    And not a single cent from the PAP. Though they might make
    money from it too…

    Pui-pui

    GD Star Rating
    loading...
  • Sojoürner:

    Financial support for industries that have suffered large losses from the corona-virus (airlines, hotels, restaurants, as examples) and that support goes to industry executives like CEO (SIA) who takes home more than $4.2m while incurring $1.1b loss 1Q. Not that they don’t deserve their pay, but this is a good time to take a good long hard look at our wealth and income inequality. Giving money to the top management will not help the economy; Giving it to their companies to help defray revenue lost is something else entirely, and helps all.

    This is what happens when you “financialize” the economy. To think money is the answer to everything. If the 4Gs think this problem will recede quickly, they are almost certainly deluding themselves.

    Once the downward spiral starts — more job losses leading to less consumer spending leading to more business closures leading to more job losses — it can lead to an even deeper downturn that permanently damages the economy for years to come. This time around, the recession is being set into motion by an outside and uncontrollable force.

    It’s time to come to grips with the reality that the virus won’t be beaten or the economy brought back this calendar year, and a near-guarantee that won’t happen until 2021.

    GD Star Rating
    loading...
  • xoxo:

    PAP’s business is just that,A bu$ine$$!
    PAP IS NOT A NORMAL. GOVERNMENT.
    Remember,*you(sgs) die YOUR business.
    COLLECTING MONEY is OUR bu$ine$$?

    GD Star Rating
    loading...
  • TUMASIK Patriot:

    The ART of Creating an ILLUSION is Never Over even though the bast**d who started this ILLUSION of Success with Slaughter & Prison of the INNOCENTS is Dead and will be returning to feed on his evils and asking for Hell Notes soon with his son joining him if the Owl is Right on Cue 26th August!!!

    GD Star Rating
    loading...
  • 60% orbi good:

    orbi good to 60%. they deserve what they voted for.

    GD Star Rating
    loading...
  • sheep S$b cotton all wasted:

    pap ownself pay ownself S$m syatem has many faults.

    1st, one of which is the entitlement mindset, that joining pap immediately entitles one to S$m ownself pay ownself wage.

    ask sexpert and keechiu. honestly, they tell you, they ain’t worth 10% of what they are paying themselves in pap.

    2nd, the next fault is the money grows on trees mindset. to keep jobs? simple. pay wages on behalf of private companies.

    the consequence is, when the paying dries up, sooner and no later these private companies move elsewhere. but do pap folks really care? heck no. they are still paid S$m. in good times. in bad times.

    as disgracefulof pap, yah the one who tried to bully Ms Sylvia Lim of WP, has said, pap folks need $$m to maintain their standard of living.

    3rd, the fault of all faults. because pap folks never knew the value of S$m, since easy money easy come easy go, these pap ownself pay ownself S$m folks develop the blame mentality.

    in good times when the rising tide lifts all ship, they say it is their talent and so they pay each other 24 months GDP growth bonus, in addition to the S$m they are already paying each other.

    in bad times when the sinking tide sinks all ship, the same folks blame the virus. worse they continue to pay each other S$m.

    we confess if the pap folks will dare to pay 24 months GDP growth bonus at the end of 2020 but we do think these money faced folks may try to trick cotton sheep about the matter.

    about this pap 2020 GDP growth bonus thing, the matter remains to be seen.

    GD Star Rating
    loading...
  • Uselesstankl:

    It is strange that people from countries with which Singapore has reciprocal fast-lane arrangements are considered to be of lower risk. The period of incubation applies to all who have the coronavirus, regardless of which country they contracted it from.

    ZZZZZ

    YOU ALL SLEEPING ???

    MY CITIZENS GET FREE FOR ALL , ABOVE….

    TO STEAL YOUR BLOODY DINNER!!!

    Vote for pap some more, “STUPID” PPL

    GD Star Rating
    loading...
  • Protect Atas Peoples:

    This just shows how clueless and incompetent the rotten PAPayas are. They only know how to throw money at problems as always.

    The rotten PAPayas thought that with the JSS, they’d kill 2 birds with 1 stone. Throw $93 billion to prevent retrenchment, also could get them a strong mandate. Wow! Imagine them rubbing their hands in glee before GE.

    Alas! JSS has failed terribly. Not only did the rotten PAPayas have a disappointing result in GE2020 (bcoz people have already lost trust in them), now companies one after another are starting to retrench employees.

    A humongous sum of money has already been used. What else will the rotten PAPayas come up with? What else can they do? Does anyone think that our 4G leaders are capable enough to save sg?

    See? It’s Heaven’s will that the rotten PAPayas remains as govt. Now is the time for all to see how many millions and billion have been wasted on this bunch of useless rotten PAPayas.

    Yes, stop being in denial. Today’s pap is no longer the pap of 1G.

    GD Star Rating
    loading...
  • Uselesstankl:

    If you want to help migrant workers, here are two funds I have donated to (https://bit.ly/378h7Ys and https://bit.ly/2MyFdm3). Feel free to let me know other ways I can help]

    We can be better and should be better when it comes to racism.

    zzzzz

    Pls mr help migrant workers,

    Spare us your shit….

    The freaking island is ALREADY OVERBUILT…

    WE NEED MORE MIGRANT LABOR OR PAP…

    ITS NOT ABOUT RACISM…..

    MORE ABOUT OUR NATION , NEEDING HELP FOR JOBLESS , AND YOUR KIND NOT NEEDED !!!

    GD Star Rating
    loading...
  • Reality:

    More companies will closed down and more jobs will be lost ahead.
    That is the reality.
    Better to spend money to help our people to survive in the new economy.
    Learn new useful skills.Support the jobless Singaporean to be entrepreneur and learn how to depend on themselves.Give them some grants to start.Better than attend useless courses and not able to get a decent job at the end.

    Companies will not be able to create enough decent jobs for all the jobless.
    Singaporean have to take ownership of their own destiny and career .

    GD Star Rating
    loading...
  • A Matter of TimingJ:

    They took advantage of the pandemic to give away free-money just in time for the GE. Otherwise, it would have looked like vote-buying. The people felt “shiok” at that moment when money was raining down on them! Besides, to let the companies fail and see msssive retrenchments before the GE would not have worked to their advantage. Now that the GE is over, the people must face the hard truth. If a vaccine is not found soon, you can expect new waves of infections, shut-downs, business closures, down-sizing, pay-cuts and retrenchments. When more locals are being retrenched, perhaps the “cotton” will fall of their eyes!

    GD Star Rating
    loading...
  • pian nang:

    Lee sian lan is useless!
    He has totally screwed this nation upside down.

    So many sgs are suffering and the govt still think they are doing such a good job.

    Just because you are doing well doesnt mean others are.
    The longer they linger around,the more rhe number or sgs will suffer.

    Still got the cheeks to say he will hand over in good order to 4G?
    What is good order?
    KNN! So many sgs suffering n he says in good working order?

    He has destroyed for us what we have built for ourselves by benefitting aliens.
    His wife too.

    Both are clowns.

    GD Star Rating
    loading...
  • REGIME CHANGE is the solution:

    Straits Times: Death of 1-Altitude guard: The pit he fell into was exposed because workers found it ‘quite troublesome’ to cover it daily

    The above cases are so common in Singapore proving it is basically a 3rd World country. Too many unskilled foreign workers with mediocre management.

    Blame PAP

    GD Star Rating
    loading...
  • Harder Truths:

    In a recession the local citizen is always dropped first by companies and will usually never work again if they are over 35.

    In a recession the government continues bringing in more FT for cheaper labour.

    I hope those people who voted for pappies and are going to lose their jobs can survive on garbage until the next election. Maybe this will teach them how to vote next time – if there is a next time.

    GD Star Rating
    loading...
  • Spurm Gan Yew:

    We must think of retrenchments as Good Things! We must be positive!

    I love retrenchments.

    It’s not because they deserve it or more will wake up after losing financial wealth.

    Civil servants are the most lucky.

    All funded by tax money.

    GD Star Rating
    loading...
  • Unemployment Relief Fund:

    Good Governance should immediately establish a permanent Unemployment Relief Fund in order to mitigate Depression and Social Disorder that will set in naturally when more and more Citizens become unemployed and remained jobless for more than 3 months without any form of aid or mercy relief.

    The Crime Rate will definitely escalate and prisons will be overwhelmed with all sorts of criminals. Cases of family violence will flare up beyond control.

    The worst case scenario is when people start to kill one another, fighting for food and individual survival. The nation will bleed profusely.

    This Unemployment Relief Fund would spur more beneficent multi-millionaires and billionaires to chip in at least 10% of their financial wealth, displaying a unified spirit of kindness, so no one is left in the lurch; of hunger pangs, physical and mental illness as well as suicidal thoughts.

    Good Governance is what it takes as promised: Our Life, Our Jobs, Our Wellbeing, Our Sustenance and Survival.

    A together, A nation, A Singapore…
    Happy Birthday Singapore!

    (Birthday, NOT Burstday)

    GD Star Rating
    loading...
  • Francescar Lim Fei Hai:

    What is JSS?

    GD Star Rating
    loading...
  • Capitalize on Crisis:

    A Matter of TimingJ: They took advantage of the pandemic to give away free-money just in time for the GE.

    Why let a crisis put to waste?

    GD Star Rating
    loading...
  • Jobs Support Scheme:

    Francescar Lim Fei Hai: ance is what it takes as promi

    From IRAS site:
    Jobs Support Scheme (JSS) – IRAS

    GD Star Rating
    loading...
  • Jobs Support Scheme:

    Francescar Lim Fei Hai: What is JSS?

    From IRAS site:
    Jobs Support Scheme (JSS) – IRAS

    GD Star Rating
    loading...
  • Support entrepreneurship:

    Reality is there would not be enough jobs for the jobless in this crisis.
    Companies will not be able to create enough of it in this Pandemic time.
    Better to support Singaporean to be more entrepreneur and create jobs for themselves.Take ownership of their life.
    Suggest gives grant to those who want to start their own companies,if they meet certain criteria,more so for our experienced PMETs .Create Entrepreneur Support Centers for them …to save operational costs and provide admin support.
    Such entrepreneur Centers at HDB neighborhood can also be run by our jobless elders…creating more jobs for Singaporeans.
    More sustainable in the long run.

    GD Star Rating
    loading...
  • Change Manpower Policy:

    Change Manpower Policy.
    Reduce the number of FT here.Reduce by 50% under this Pandemic time…
    Need to create more decent jobs for our local jobless and underemployed PMETs.
    Many are suffering…Worst to come.

    GD Star Rating
    loading...
Member Services
Self-SupportMembers LoginSelf-Support
Sponsored Advertisement
Search On TR Emeritus
Sponsored Advertisement
Announcement
Advertisements
Visitors Statistic
Latest Statistic
Advertisement

UA-67043412-1