[[[ForeverAlone]]]

So sad. real news will get PMOFA, we are screwed.......

KNS, Ex GIC Financial top management staff claim HDB Profit , and got PMOFA

WOW just because he no more in GIC ? Sometimes you can see one , PAP just using PMOFA to protect their political agenda behind.

[cityhantam]

https://www.straitstimes.com/business/mo...obal-staff

Morgan Stanley to cut about 1,600 jobs or 2% of global staff on potential US recession

NEW YORK – Morgan Stanley is embarking on a fresh round of job cuts as rival banks sounded caution that a looming US recession will dampen hiring.

The banking giant will reduce its global workforce by about 1,600, amounting to roughly 2 per cent of the total, according to a source familiar with the matter. It had more than 80,000 employees at the end of the third quarter, compared with about 60,000 just before the Covid-19 pandemic began.

[Blasterlord2]

Most companies can cut 10% of their staff. Govt maybe can cut 20%

[Ola]

Most companies can cut 10% of their staff. Govt maybe can cut 20%

PAP can easily cut 50% 

and remove the 5 Mayors in Parliament 

to become CDC Branch Managers

[cityhantam]

https://www.cnbc.com/2022/12/08/tech-lay...nways.html

Tech layoffs in Southeast Asia mount as unprofitable startups seek to extend their runways

Tech layoffs have been increasing in Southeast Asia this year. GoTo Group, Glints and Carousell are the most recent companies to downsize their headcounts — within the last 30 days.

“Founders are being prudent by managing costs in this environment to ensure there is sufficient runway till late 2024,” said Jia Jih Chai, co-founder and CEO of Singapore-based e-commerce brand aggregator Rainforest.

Venture capital firms also actively advised startups to extend their runways, according to venture partners CNBC spoke to.


....

Last week, online marketplace Carousell announced it was letting go about 10% of its headcount — or approximately 110 positions.

In November, Indonesia’s GoTo Group — a merger between ride-hailing giant Gojek and e-commerce marketplace Tokopedia — cut 1,300 jobs or about 12% of its headcount.

There are signs that we are entering into a recession, if we are not already in one. Therefore, customer demand is likely to be slower in 2023.

Jia Jih Chai
RAINFOREST

Sea Group, according to local media, laid off more than 7,000 employees over the past six months.

[kelhot2001]

When 习大大 start to promote Tech companies in China, TS tune will also change.

Mark. My. Words.

[Tangsen]

[cityhantam]

Companies will be laying off a lot of workers to avoid going bankrupt.
.
.

[cityhantam]

https://www.asiaone.com/money/goldman-cu...e=telegram&utm_medium=social&utm_campaign=&utm_content=
. 
.

[cityhantam]

More trouble!

https://www.ttnews.com/articles/shipping...oker-deals
.
.

[cityhantam]

https://www.channelnewsasia.com/business...sj-3151876
. 
.

[cityhantam]

https://news.crunchbase.com/startups/tech-layoffs-2022/
.
.

[cityhantam]

https://layoffstracker.com/

.
.

[Ola]

Now AI and computer 

Banks can easily reduce 20% of their workforce

[cityhantam]

https://www.cnbc.com/2022/12/21/micron-a...uses-.html

Semiconductor maker Micron announces 10% staff reduction, suspends bonuses

Idaho-based Micron has about 48,000 employees, according to a recent SEC filing. The company said it would hit its reduction target through voluntary departures as well as layoffs.

Micron also said it is suspending 2023 bonuses.

“On December 21, 2022, we announced a restructure plan in response to challenging industry conditions,” the company said in an SEC filing. “Under the restructure plan, we expect to reduce our headcount by approximately 10% over calendar year 2023, through a combination of voluntary attrition and personnel reductions.”

Micron said it expected a $30 million charge in the current quarter related to the restructuring, which will also include less investment into manufacturing capacity and cost-cutting programs.

[mrclubbie]

this will be the worst recession ever

worse than 2008-09, 1997-98, 1985

[Blasterlord2]

No problem. Their average compensation is $237,589.

https://www.comparably.com/companies/mic...e-salaries

[Clyde]

https://www.cnbc.com/2022/12/21/micron-a...uses-.html

Semiconductor maker Micron announces 10% staff reduction, suspends bonuses

Idaho-based Micron has about 48,000 employees, according to a recent SEC filing. The company said it would hit its reduction target through voluntary departures as well as layoffs.

Micron also said it is suspending 2023 bonuses.

“On December 21, 2022, we announced a restructure plan in response to challenging industry conditions,” the company said in an SEC filing. “Under the restructure plan, we expect to reduce our headcount by approximately 10% over calendar year 2023, through a combination of voluntary attrition and personnel reductions.”

Micron said it expected a $30 million charge in the current quarter related to the restructuring, which will also include less investment into manufacturing capacity and cost-cutting programs.

They hired many fresh graduates just half year ago. Heard the staff there felt rather scary. Retrenchment will be announced after CNY.

[Tangsen]

https://layoffstracker.com/

.
.

Machine nowadays can do coding too … no need as many programmer liow

[Alam]

Micron Singapore side has a lot of employees

[sgh]

Machine nowadays can do coding too … no need as many programmer liow

Can give what name of that machine? There have been attempt for at least 20-30 years but none is able to really replace which is why programmer still in demand only diff is the pay employer willing to pay

[Tangsen]

Can give what name of that machine? There have been attempt for at least 20-30 years but none is able to really replace which is why programmer still in demand only diff is the pay employer willing to pay

Top 10 AI Coding Systems that are As Good As Human Programmers



https://www.analyticsinsight.net/top-10-...ogrammers/

[debono]

Can give what name of that machine? There have been attempt for at least 20-30 years but none is able to really replace which is why programmer still in demand only diff is the pay employer willing to pay

Top 10 AI Coding Systems that are As Good As Human Programmers



https://www.analyticsinsight.net/top-10-...ogrammers/

There is a controversy between sgh and Tangsen, don't know who is right..........?

[Tangsen]

this will be the worst recession ever

worse than 2008-09, 1997-98, 1985

I lived thru all, will live thru this one.
Btw you forgot early 2000 dot.com bubble burst & Y2K

[sgh]

Top 10 AI Coding Systems that are As Good As Human Programmers



https://www.analyticsinsight.net/top-10-...ogrammers/

I have been programming from late 90s till today and I can tell you they are not ready yet in reality. I mention it has been around for 20-30 years? A simple proof will be to go to job website and look at the openings for programming and you will know. Tons of vacancies and if machine can replace programming we should see otherwise.

Sometimes read about it does not mean it is ready in real life. I speaking from Spore IT perspective

[sgh]

There is a controversy between sgh and Tangsen, don't know who is right..........?

I don't know how old Tangsen is in reality and what is his full-time job and how long he is in it. I speak from a programmer perspective that has been doing it since I graduated late 90s. Very tiring job so hope to retire at 55

[Tangsen]

I have been programming from late 90s till today and I can tell you they are not ready yet in reality. I mention it has been around for 20-30 years? A simple proof will be to go to job website and look at the openings for programming and you will know. Tons of vacancies and if machine can replace programming we should see otherwise.

Sometimes read about it does not mean it is ready in real life. I speaking from Spore IT perspective

 

[Tangsen]

Can give what name of that machine? There have been attempt for at least 20-30 years but none is able to really replace which is why programmer still in demand only diff is the pay employer willing to pay

Nowadays many if not all software are pre-program. Just drag and drop. Simple example like all machine learning software, minimum programming needed. 
Only when you wanna customised then programming is needed. 
With cloud & SaaS .. many professional services companies are dying

[Tangsen]

I don't know how old Tangsen is in reality and what is his full-time job and how long he is in it. I speak from a programmer perspective that has been doing it since I graduated late 90s. Very tiring job so hope to retire at 55

I am older than you and I was around when my companies makes tonnes of $$$ because of Y2K …. much about nothing.
Today I am with a firm working with AI and data analytics focusing of specific needs in the financial sectors

[debono]

I don't know how old Tangsen is in reality and what is his full-time job and how long he is in it. I speak from a programmer perspective that has been doing it since I graduated late 90s. Very tiring job so hope to retire at 55

Why retire at 55, when you can retire at age 65...........?