Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit
- Thread starter Papilio
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not just a leaner workforce for a tighter ship; also to steer the ship into the right direction.. what a joke.
well, if HR need to cull 900, they will do that in a matter of seconds, as long as none comes from their own dept. i.e. Human resource!
Trust me! I've seen it- It's in tangible form not in digits like you see on TV.
Did you actually see the gold bullion bars stored in the reserves? all these figures have to be backed up by some physically form right? and the World economy is measure against US$ what is that backup against? any country able to validate that the US$ has that reserves to backed their value?
How does our dollar retains the value? it is just a piece of paper about 2"x4" print. Interesting to see what the answers are...
So when the Fed bails out AIG and others, is it a matter of turning on the printers and print more money?
Anybody knows? :sweatsm::dunno:
../azul123
Sequentially, does anybody knows who will go first?
Middle management? Senior Management? frontliners?
Middle management? Senior Management? frontliners?
The highest paid ones - Senior Management, Middle Management. Hope you are not one of them.
I think you should wiki the international monetary system. The answers will shock you.
Money is backed by nothing other than confidence.
Money is backed by nothing other than confidence.
HR expert told me - Middle manangement will go first and the rationale quite relevant.
Frontliners are needed to still keep the business alive. Exceptional frontliners can rank up and double-up some of middle management role.
Senior Management with lower pay grade double up with middle management roles.
You must be mistaken. It's a commercial bank, not a state bank. It makes decisions on commercial bases, it does not exist to carry out govt policy.
And neither does sia, nor keppel, nor singtel...
The reality is that they expect less work in the coming months. So they don't need so many people.
In time like this, it presents the best opportunity for the management to clear the deadwood among the forest trees.
Also a change in era, those who are pro Jackson's policies will be under the axe.
Very safe for the SM or higher level - they are always in the Win-Win Situation.
When economy is good - they have done wonders to bring extra revenue.
When economy is in doldrum, they have done wonders to limits the fall in profit to only 38%, it could have been much worse given the current business situation.
I think to an extent only...
For example, if share-holders are not happy like for instance the mini-bond example, because they are buying back some from selected individuals who met certain criteria, this has impacted their stocks as the buy back contributed $millions right? so share-holders could be unhappy about it.
../azul123
During that time, there were no replacements for those who had retired, resigned, or transferred out, the remaining staff had to bear the duties left behind plus additional work. Then the company followed the "official" guidelines of economic drive/cost cutting to reduce variable components in the salary; double whammy, more work plus less pay. I expect this to repeat in the months to come.
Of course we all know it is a corporation.
However everyone knows the roots of corporations such a DBS (and the POSB it absorbed), SIA, etc....
The term National is figurative, not legal.
Referring to how the few important institutions were built up at about the same time our young country grew after independence.
For example, people refer to SIA as Singapore's National carrier.
Everyone who said that knows that SIA is a corporation with its own legal entity and shareholders. They are not stupid.
Likewise when they talk of DBS.
However everyone knows the roots of corporations such a DBS (and the POSB it absorbed), SIA, etc....
The term National is figurative, not legal.
Referring to how the few important institutions were built up at about the same time our young country grew after independence.
For example, people refer to SIA as Singapore's National carrier.
Everyone who said that knows that SIA is a corporation with its own legal entity and shareholders. They are not stupid.
Likewise when they talk of DBS.
You'd be surprised what people here think, know and understand. Certainly the idea that so-called GLC's are not government organisations, do not have to follow govt policy, are not run by the govt, are not extensions of the govt but are in fact purely profit-oriented entities has not quite sunk in for a lot of people. Incl foreign legislators who have denied GLC's and SWF's access to their markets for "strategic" reasons.
Thus the unending calls for bus companies and train operators to consider the plight of the poor, as if these companies owe it to the public to do National service, for example.
Thus the unending calls for bus companies and train operators to consider the plight of the poor, as if these companies owe it to the public to do National service, for example.
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i wonder what happens to the "monthly varaible component" in the salary that the govt and unions had promo so much, which they say is suppose to take effect in bad times to help companies to tie over bad times rather than head chopping.:think::dunno:
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lol...they oni know how to cut jobs, but they forgot the single most highest money drain in their company: the blardy high bonus of the bosses.
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