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tech sector’s layoffs, should Singapore’s workers be better protected from retrenchment?
SINGAPORE, Dec 24 — Mass layoffs in the technology sector have been happening one after another, with Singapore-based restaurant online reservation site Chope being the latest to announce cuts in manpower.
Some of the people who were retrenched told TODAY that they had mixed feelings about the severance packages they were given. Out of five former tech employees interviewed, three felt they should have received higher compensation sums.
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(26-12-2022, 07:46 AM)Scythian Wrote: tech sector’s layoffs, should Singapore’s workers be better protected from retrenchment?
SINGAPORE, Dec 24 — Mass layoffs in the technology sector have been happening one after another, with Singapore-based restaurant online reservation site Chope being the latest to announce cuts in manpower.
Some of the people who were retrenched told TODAY that they had mixed feelings about the severance packages they were given. Out of five former tech employees interviewed, three felt they should have received higher compensation sums.
companies can pay retrenchment benefit as they deem reasonable since there is no law to specify how much the company must pay to retrenched employees.
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(26-12-2022, 07:51 AM)K88 shu shu Wrote: companies can pay retrenchment benefit as they deem reasonable since there is no law to specify how much the company must pay to retrenched employees.
In Singapore, companies are allowed to retrench employees at any time and are not mandated to provide retrenchment benefits.
Human resource expert Adrian Choo said: "The Singapore Government believes in a free-market economy and that means being able to hire and fire workers as management deems fit.”
However, there are laws regarding the conduct for retrenchment, such as the requirement for companies to notify MoM about the cuts within five working days after the affected employees have been informed, the experts said.
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PAP Policies are fragmented and aimless
So need to break into 3 groups who do not need Retrenchment monetary and notice benefits
1) Those whose past salary is the same as EP Criteria
2) PRs & New Citizens are former F Talents and can get jobs easily
3) Biz Owners with audited profits more than $1 mill / yr
Why do we need 5 Mayors and 80 PAP Ministers?
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Yes. Because it is the Govt who promised us jobs so there is no need for Retrenchment benefits. Since they cannot create enough jobs, then it is only right and their duty to provide especially now it takes maybe 12 or 36 mths to get back a similar job.
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Decline of Sg is inevitable, tech sector come fast go fast.
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