May
25

A dip in Singapore economy expected? But how deep?

When news such as retrenchment and low growth 0.2% (which is “better than the flat growth predicted in the advanced estimates last month.” – as quoted from the bottom article by today.) You know the economy is going to get a beating soon. I mean this is something most of us on the ground can already feel but such reports just kinda makes it more official.

As i am typing this, i have a few friends whom would be worrying about their job as their company has already annouced plans for retrenchment (and yes they have been working for the company since graduation or approx 20 years). I have friends whom are breathing a sign of relieve as he knows he should be save as his all the other 4 senior member of his team of 5 has been retrench bar him. 

Yes the down turn is obviously on the card but just how bad would it be this time? The last time this happened i was hiding safely in the hands of a govt link company. Now being in the private sector it does gives me the jitters.

retrenchmentSINGAPORE – While layoffs are inevitable as companies restructure, they should consider alternative ways of managing excess manpower, such as redeploying workers, having a shorter work week and a flexible wage system, before turning to retrenchment as a last… Credits: Retrenchment should be last resort, companies told
 

retrenchmentSINGAPORE – The Singapore economy grew 0.2 per cent on a quarter-on-quarter seasonally-adjusted annualised basis for the first quarter, due to an unexpected surge in manufacturing as the services sector contracted worse-than-expected. The performance was… Credits: Singapore economy grew 0.2% q-o-q for Q1