Thursday, November 13, 2008

The retrenchment wilderness


3 comments:

Anonymous said...

DBS started the ball rolling by retrenching 900 staff.
wonder if most have to do with the minibomb fiasco.

J said...

Reckon DBS made calculation;

$X amount of compensation monies = wages for 800 staff.

Wages of 100 extra staff = christmas gift and offering to MAS

soojenn said...

The retrenchment - your guess is as good as mine. I believe it will involve staff linked to the minibond issue. Then DBS can claim afterwards... the staff who sold you the products is no longer with us. You can be sure that before DBS retrenched these people, that they will have asked them to write up reports that they have no mis-sold the products and have clearly explained to the customers!
In HK, it was heard that the DBS management were asking former staff who left before the minibond fiasco to come back to the company to answer some questions. Well, this HK not Singapore, so what do you think DBS got in response - two fingers.