Where is the RECOVERY when Retrenchment continues ?

• Atobe

  4 Mar 04, 03:13

  Is there an Economic Recovery or is the Economy still in the doldrums ?
  
  What is the reason for the recent revision in the statistics to show Singpore is on the way to achieve 3% to 5% improvement to the Economy by end-2004 ?
  
  Is this an empty statistic put up by the Statistics Department, working in the Minister of Finance, so as to justify the earlier stepping down of PM GCT, as this was a stated condition by GCT that he will do so when the Economy has improved ?
  
  It is surprising that in an environment that is supposed to be leading to Economic Recovery, Singaporeans are still being retrenched.
  
  The despicable irony of this retrenchment is that it is done after the Retrenchment Rules have recently been changed, which limit the retrenchment benefits - of one month for each year employed - being capped at a maximum pay out of 25 months only.
  
  Did Temasek Holdings get prior information of the impending change to the Labor Laws governing Retrenchment Benefits, and waited for this rule to be effected before this Retrenchment Exercise ?
  
  Is this another contradictory policy being designed to encourage Singaporeans NOT to stay too long with any Company, and NEVER beyond 25 years ?
  
  Zoo workers get golden handshake
  By Arti Mulchand
  
  ALL 560 staff members of the Singapore Zoological Gardens, Night Safari and Jurong Bird Park have been offered a 'voluntary retrenchment scheme'.
  
  Parent company Wildlife Reserves announced this to staff two weeks ago. The move is to 'eliminate areas of duplication that have arisen over the years' in both operations and management, the group's deputy chief executive officer Ho Yew Kee said in a statement to The Straits Times.
  
  The three parks owned by Temasek Holdings were integrated in August 2000.
  
  A company spokesman said that some staff members have already been laid off. Security, for example, was outsourced since Monday, he said.
  
  Under the scheme, those who have worked for more than three years have been offered a month's salary for every year served, if they volunteer to retire, with the payout capped at 25 months.
  
  Those who have been with the company for less than three years get half a month's pay for each year served.
  
  Although it is an opt-in policy, the company can refuse a staff member whom they don't want to go. No cut-off date has been set for opting in.
  
  The company will not comment on the number they want to reduce staff strength by, or how many staffers have already taken up the scheme.
  
  http://straitstimes.asia1.com.sg/latest/story/0,4390,238169,00.html?
  
• chualcsg

  4 Mar 04, 17:02

  The Polytechnics "force" the staff to resign and no need to give any compensation.
  
  

  Originally posted by Atobe:
  Is there an Economic Recovery or is the Economy still in the doldrums ?
  
  What is the reason for the recent revision in the statistics to show Singpore is on the way to achieve 3% to 5% improvement to the Economy by end-2004 ?
  
  Is this an empty statistic put up by the Statistics Department, working in the Minister of Finance, so as to justify the earlier stepping down of PM GCT, as this was a stated condition by GCT that he will do so when the Economy has improved ?
  
  It is surprising that in an environment that is supposed to be leading to Economic Recovery, Singaporeans are still being retrenched.
  
  The despicable irony of this retrenchment is that it is done after the Retrenchment Rules have recently been changed, which limit the retrenchment benefits - of one month for each year employed - being capped at a maximum pay out of 25 months only.
  
  Did Temasek Holdings get prior information of the impending change to the Labor Laws governing Retrenchment Benefits, and waited for this rule to be effected before this Retrenchment Exercise ?
  
  Is this another contradictory policy being designed to encourage Singaporeans NOT to stay too long with any Company, and NEVER beyond 25 years ?
  
  [b]Zoo workers get golden handshake
  By Arti Mulchand
  
  ALL 560 staff members of the Singapore Zoological Gardens, Night Safari and Jurong Bird Park have been offered a 'voluntary retrenchment scheme'.
  
  Parent company Wildlife Reserves announced this to staff two weeks ago. The move is to 'eliminate areas of duplication that have arisen over the years' in both operations and management, the group's deputy chief executive officer Ho Yew Kee said in a statement to The Straits Times.
  
  The three parks owned by Temasek Holdings were integrated in August 2000.
  
  A company spokesman said that some staff members have already been laid off. Security, for example, was outsourced since Monday, he said.
  
  Under the scheme, those who have worked for more than three years have been offered a month's salary for every year served, if they volunteer to retire, with the payout capped at 25 months.
  
  Those who have been with the company for less than three years get half a month's pay for each year served.
  
  Although it is an opt-in policy, the company can refuse a staff member whom they don't want to go. No cut-off date has been set for opting in.
  
  The company will not comment on the number they want to reduce staff strength by, or how many staffers have already taken up the scheme.
  
  http://straitstimes.asia1.com.sg/latest/story/0,4390,238169,00.html?
  [/b]