
SIA, Airbus And Now Boeing – Will S’pore’s Aviation Industry Continue To See Retrenchments?
With most of airlines' revenue streams being cut off, it is unlikely that the aviation sector will be able to return to its pre-Covid-19 performance
With most of airlines' revenue streams being cut off, it is unlikely that the aviation sector will be able to return to its pre-Covid-19 performance
SPH let go of over 140 workers as Covid-19 wreaked havoc on its advertising revenue. Further layoffs are unplanned, but dependent on economic conditions.
Sources with knowledge of the matter expect between 4,000 to 6,000 layoffs worldwide, but WeWork Singapore says it's "business-as-usual" here.
It aims to protect Singapore workers pre-emptively, so that they will have an easier time securing their next job placement when retrenchment hits.
High-paid roles will be most affected, and any job cuts implemented is "on top of 4,700 redundancies" that HSBC announced in August.
HP just revealed that it has plans to cut 7,000 to 9,000 positions through firings and voluntary early retirement as a part of a 2020 restructuring plan.
IBM retrenches all of its Singapore staff at its Tampines facility by July 2019. The exercise began last year where about 200 staff were laid off.
Ofo did not provide any reason for the termination, nor were the affected employees offered a one-month compensation they were due to receive.
Those affected are based in Indonesia, India, China, Thailand, Malaysia, Laos and Myanmar.
Dismissed full-time and contract workers were from the information systems, engineering, marketing and commercial, and consumer departments.
We have to acknowledge the elephant in the room. Getting laid off is not pretty, but here's how to protect your retrenchment benefits and future.