Singapore Retrenchment Blog

Seagate to pull out of Singapore? and enlarge production in china

dot — Thu, 17 Dec 2009 19:19:30 +0000

Seagate Technology LLC (NASDAQ: STX | Quote | Chart | News | PowerRating) will move its Singapore-based factory to China in 2010, as an effort to cut manufacturing costs and raise profitability, according to Banseng Teh, the hard disk giant’s manager director for Asia Pacific sales. The Singapore factory will be closed next yearend, with its [...]

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RBS to cut 3,700 jobs

dot — Tue, 03 Nov 2009 06:58:46 +0000

ROYAL Bank of Scotland, rescued by the British government in the wake of the global financial crisis, said on Monday that it planned to axe about 3,700 jobs across its retail operations in Britain. ‘RBS has begun a process of consultation with staff in the UK regarding a restructuring of its Retail Banking division that will [...]

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UPDATE 1-Third of RBS Coutts staff in Singapore quit

dot — Tue, 13 Oct 2009 03:57:06 +0000

* Some of the staff joining Swiss bank BSI – sources * Two top RBS Coutts executives left few months back -sources * BSI building its Asian business (Adds details of Coutts bankers joining BSI) LONDON/SINGAPORE, Oct 13 (Reuters) – A third of the staff of the Singapore office of RBS Coutts, a private bank that is part of [...]

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Singapore’s Jobless may rise

dot — Tue, 13 Oct 2009 03:06:58 +0000

SINGAPORE’S unemployment will stay up for some time, even as the economy has decisively emerged from its worst recession and started to grow again. Sounding a note of caution, Prime Minister Lee said in the short term, the jobless rate may well rise above the second quarter’s 3.3 per cent. ‘This is because unemployment numbers tend [...]

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Singapore’s Jobs Credit Scheme to be extended for 6 months on stepped-down rate

dot — Tue, 13 Oct 2009 03:03:47 +0000

Breaking News Singapore’s Jobs Credit Scheme to be extended for 6 months on stepped-down rate; 1st payment in January 2010 based on 6% of workers’ salary, 2nd payment in April on 3% of salary —- SINGAPORE: The Singapore government has announced that it will extend the year-long Jobs Credit Scheme, which was supposed to end in December, by [...]

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One Third of RBS Coutts staff in Singapore quit in mass resignation

dot — Tue, 13 Oct 2009 01:33:41 +0000

Oct 13 (Reuters) – A third of the staff of the Singapore office of RBS Coutts, a private bank that is part of the Royal Bank of Scotland (RBS.L) (RBS), have quit in a mass resignation, the bank said on Tuesday. A spokesman for RBS confirmed a story in the Financial Times that 20 key managers [...]

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BREAKING: RBS Coutts Staffs in Mass Resignation

dot — Tue, 13 Oct 2009 00:37:18 +0000

story from financial times: RBS Coutts, the international arm of the UK private bank, is scrambling to rebuild its flagship Singapore office after the mass resignation of one-third of its staff in the city-state. The surprise departures include about 20 key managers, as well as 50 or so support staff, some of whom built up lucrative private [...]

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Seagate Technology to lay off 2,000 employees in Singapore

dot — Tue, 04 Aug 2009 10:05:15 +0000

Seagate Technology announced on Tuesday it would relocate its hard disk drive manufacturing operations from Ang Mo Kio to other existing Seagate facilities by end-2010, laying off some 2,000 employees in the process. The company said in a statement that this consolidation is necessary in order for it to further increase efficiency and reduce costs by [...]

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Pay holds steady for some diploma, degree graduates

dot — Fri, 31 Jul 2009 06:48:50 +0000

SINGAPORE: While polytechnics and the government are rolling out schemes to help fresh graduates get by in the tight job market, one survey presents another picture: More than 50 per cent of companies are hiring fresh diploma and degree graduates, with salaries at least in some sectors holding steady. These are engineering, IT and telecommunications, finance [...]

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Manpower minister urges employers & workers to stay flexible, positive

dot — Fri, 31 Jul 2009 06:48:14 +0000

Stay positive, stay flexible and stay together – that’s how Singapore’s government, labour movement and employers’ federation will weather the global economic downturn. The annual dialogue brought together key players from Singapore’s tripartite partnership. One participant said he had no need to send his workers to the national skills upgrading scheme, SPUR, and asked if the subsidies [...]

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