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Thread: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

  1. #21

    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    they have less profit and they starts to retrench ppl oredi? wat happens if their book is red? close the company? they are one greedy *******.
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  2. #22
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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    i wonder how these HR can find 900 in such a short time for "mass culling".

    leaner workforce for a tighter ship. does it mean they had some on payroll for little good reason? wad were they doing all the while?

  3. #23

    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    a more interesting question is do they really expect their remaining workforce to do more work for the same pay with less people and still achieve better results?
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  4. #24
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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Well if they did nothing at all, would that not be more dangerous.
    They had to do something to steer the ship correctly again.
    Give them a chance to clean house. After all it is our National Bank.

  5. #25

    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quote Originally Posted by shiruikage View Post
    a more interesting question is do they really expect their remaining workforce to do more work for the same pay with less people and still achieve better results?
    I think every company expects this, whether they retrench people or not.
    The last time we had SARS & bird flu, my department manager took the opportunity to tell us "you people should be grateful to still hold a job, especially the pregnant ones, so don't complain".
    Sigh, reality.

  6. #26
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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quote Originally Posted by ricohflex View Post
    Well if they did nothing at all, would that not be more dangerous.
    They had to do something to steer the ship correctly again.
    Give them a chance to clean house. After all it is our National Bank.
    I'm not sure ... is cutting jobs the only solution?

  7. #27
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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quote Originally Posted by JillValentine View Post
    I'm not sure ... is cutting jobs the only solution?
    they should just switch to energy efficient lamps & reduce aircon to 25 degrees!!

  8. #28
    Senior Member sammy888's Avatar
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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quote Originally Posted by sORe-EyEz View Post
    i wonder how these HR can find 900 in such a short time for "mass culling".

    leaner workforce for a tighter ship. does it mean they had some on payroll for little good reason? wad were they doing all the while?
    These were the one who were into selling the Minibonds eg..of Lehman brothers all those times I suspect as the main group of personnel let go....minus the bosses that is.

    The only banks or financial institution that is really paying the price and suffering the worst are all those who bought into all those business that involves all investment and speculative products from the USA... ( Lehman Bros, AIG...etc) Those that did not take too hard a hit dealing with too many of those dealing not so "Chian-lat".
    Last edited by sammy888; 8th November 2008 at 12:10 AM. Reason: typo

  9. #29
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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quote Originally Posted by foxwagon View Post
    The last time we had SARS & bird flu, my department manager took the opportunity to tell us "you people should be grateful to still hold a job, especially the pregnant ones, so don't complain".
    Sigh, reality.
    +1

    ... on the sigh.

    with such situation who dare give birth. dun complain suicide rates not high arh!!

  10. #30
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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quote Originally Posted by sammy888 View Post
    These were the one who were into selling the Minibonds eg..of Lehman brothers all those times I suspect as the main group of personnel let go....minus the bosses that is.

    The only banks or financial institution that is really paying the price and suffering the worst are all those who bought into all those business that involves all investment and speculative products from the USA... ( Lehman Bros, AIG...etc) Those that did not took a hit but not so "Chian-lat".
    i think so too. but (there always is a 'but') wad is the tipping point for most of us, including me to work for a company to sell their questionable products. it tragic that each small step the wrong way will eventually lend to a major catastrophy...

  11. #31

    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quite a lot of uninformed people here making kopitiam talk.

  12. #32
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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quote Originally Posted by Parchiao View Post
    Quite a lot of uninformed people here making kopitiam talk.
    i m here to probe.

    spill ur beans!!

  13. #33

    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    oh no... will there be alot of ppl drawing all the money out? for just in case...

  14. #34
    Senior Member sammy888's Avatar
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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quote Originally Posted by sORe-EyEz View Post
    i think so too. but (there always is a 'but') wad is the tipping point for most of us, including me to work for a company to sell their questionable products. it tragic that each small step the wrong way will eventually lend to a major catastrophy...
    It is like how some ad agency practice... losing one client...all those servicing the account get cut...from the suits to the creative...unless you have another meaty client or more that can still support the salaries,expenses and profit. That's just business. Hire and Fire. Well...we just have to brace ourselves for more bad news. Not the time to think of Christmas sales and bonuses unless you really have an iron rice bowl.
    Last edited by sammy888; 8th November 2008 at 12:17 AM.

  15. #35

    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Cut 1 or 2 at the top and you can spare the 900 and their family.

  16. #36
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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    I wonder what happens to those Fund Managers who were the ones selling the funds in the first place? I understand HSBC is the trustee for Lehman Brothers bonds?

    HS

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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quote Originally Posted by JillValentine View Post
    I'm not sure ... is cutting jobs the only solution?

    If you think about it, the easiest and fastest method for a company to cut cost is to reduce their workforce.

  18. #38
    Senior Member Sion's Avatar
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    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quote Originally Posted by sORe-EyEz View Post
    they should just switch to energy efficient lamps & reduce aircon to 25 degrees!!
    And stop supplying toilet papers?

  19. #39

    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    at times, when the government r asking companies to retain and retrain the employees. This national bank or state bank are cutting strength. sure a bad example! who's next SIA?

  20. #40

    Default Re: Singapore's DBS cuts 900 jobs, reports 38 percent fall in Q3 profit

    Quote Originally Posted by JillValentine View Post
    I'm not sure ... is cutting jobs the only solution?

    definitely not! however, in this state of the society, if money stop to flow, head got to roll..

    a sad world we r living in now.

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