S'pore PMET unemployment / Job Woes

[dreamybear]

Maybank Kim Eng cuts 5% of staff in Singapore

Published Dec 11, 2019, 5:00 am SGT

Maybank Kim Eng has laid off 5 per cent of its workforce in Singapore as the brokerage sector faces stiffer competition brought about by financial technology......

The report added that Maybank Kim Eng had a headcount of about 600, comprising 400 full-time employees as well as self-employed remisiers, which means that about 30 positions were axed.......

https://www.straitstimes.com/business/ba...-singapore

[dreamybear]

A snr a/c mgmr @ Starhub can earn $10k a mth.

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The Big Read: The job struggles of some middle-age S’poreans, as Govt sends more help their way
Many workers in their 40s and 50s today face greater job insecurity than ever before due to Singapore’s ongoing economic restructuring efforts to raise skills and productivity, as well as disruptions caused by rapid technological changes.

Updated 29 February, 2020

SINGAPORE — At 49, Jeff (not his real name) has been written off by potential employers as “too old, too expensive and too experienced”.

Since he lost his job in October last year, Jeff, who was retrenched from a multinational manufacturing firm, has sent out over 500 job applications to numerous companies but has so far received only one response......

https://www.todayonline.com/big-read/big...-their-way

[LionFlyer]

Starhub pays very well from what i have heard anecdotally.

In my 40s now and i feel concern about my long term future. I have marketable and in-demand skill sets but you never feel comfortable somehow.

[dreamybear]

In my 40s now and i feel concern about my long term future. I have marketable and in-demand skill sets but you never feel comfortable somehow.

Well, the govt has some initiatives to help ....

But working in SG tend to make one feel like a hamster running endlessly on a wheel with the constant skills upgrading /reskilling talk ....

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Parliament: Govt steps up measures to boost careers of Singaporeans in their 40s and 50s
Published Mar 4, 2020, 5:00 am SGT

A concerted push is under way to ensure Singaporeans in their 40s and 50s can progress in their careers and access fair opportunities.

Manpower Minister Josephine Teo yesterday detailed measures to help this group, amid a backdrop of uncertainty brought about by the coronavirus outbreak.....

Minister for Trade and Industry Chan Chun Sing also acknowledged the concerns of mid-career workers during the debate on his ministry's budget yesterday. Those who are employed are worried about their job longevity, given the keen job competition.....

https://www.straitstimes.com/politics/me...0s-and-50s

[BRT]

"hamster running endlessly on a wheel with the constant skills upgrading /reskilling talk" probably applies to most international cities. but looking at how well sg is handling the covid situation, maybe this is a first world problem trade off. sg is one of the most (if not the most) proactive in its efforts to reskill n upgrade its workforce.

off topic, i saw PCK on TV talking abt his sars is a virus song...anyway, vietnam has the best covid19 song:
https://www.youtube.com/watch?v=V9YirNgAzXI

[weijian]

A snr a/c mgmr @ Starhub can earn $10k a mth.

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The Big Read: The job struggles of some middle-age S’poreans, as Govt sends more help their way
Many workers in their 40s and 50s today face greater job insecurity than ever before due to Singapore’s ongoing economic restructuring efforts to raise skills and productivity, as well as disruptions caused by rapid technological changes.

Updated 29 February, 2020

SINGAPORE — At 49, Jeff (not his real name) has been written off by potential employers as “too old, too expensive and too experienced”.

Since he lost his job in October last year, Jeff, who was retrenched from a multinational manufacturing firm, has sent out over 500 job applications to numerous companies but has so far received only one response......

https://www.todayonline.com/big-read/big...-their-way

Somehow, it seems like the "invention of Private Hire" probably did more wonders for those retrenched than any Gov program could offer?

The kopi-siew-dai uncle also looks 10years younger than his age! As I age, I have been wondering how to retain my youth(ful) look and maybe kopi-siew-dai uncle gave some clues...

[dreamybear]

Somehow, it seems like the "invention of Private Hire" probably did more wonders for those retrenched than any Gov program could offer?

 Good point, I wonder if the govt is able to make existing or future help schemes more successful than private hire.

M1 lays off 50 workers amid digitalisation push
https://www.businesstimes.com.sg/technol...ation-push

[dreamybear]

It is interesting that the high income pilot said he will not get anything if he sells his investments during this period. It makes me wonder if he is highly leveraged.

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One sees his flying dream cut short, other SIA pilots become delivery drivers, retire early

".....For one pilot, having to take a pay cut has forced him to resort to borrowing money to keep his children in overseas universities. He is also trying to sell his car.....

On average, he used to earn S$23,000 a month compared with S$13,000 these days.

“My monthly expenses add up to over S$19,000 a month and it’s not the right time to give up my stocks and bonds and sell my properties because I’ll get nothing. I’ll get a second job, I’ll sell my clothes if I have to,” he said......"

https://www.todayonline.com/singapore/on...tire-early