Comments on: DBS retrenchment: The unkindest cut of all

By: Destiny

Destiny — Sun, 22 Feb 2009 03:44:41 +0000

The problems with OCBC is even worst. They don’t pay but ask you to leave.
For those people in this industry will know.

http://forums.asiaone.com/showthread.php?p=217059#post217059

By: smallvice585

smallvice585 — Thu, 29 Jan 2009 15:15:45 +0000

I am sure DBS Group’s CEO Richard Stanley would be shocked if he learned that his medisave does not cover leukemia .

By: smallvice585

smallvice585 — Thu, 29 Jan 2009 14:48:26 +0000

Time to short DBS shares!

By: kenneth

kenneth — Thu, 29 Jan 2009 14:40:36 +0000

Warning to DBS Management for being evil: Karma doing its work:

http://sg.news.yahoo.com/rtrs/20090129/tap-dbs-ceo-c3bb44c.html

By: tiredsingaporean

tiredsingaporean — Tue, 25 Nov 2008 13:42:09 +0000

Do you guys observed that eversince the start of all these world financial crisis and recession kicks in, all those MPs seems to be behaving very still and quiet, very unlikely of them from before when they used to be very loud even when some small little positive things happened in singapore, everyone would just jumped out all together into the lamplight as though they’ve discovered an oil well in singapore. Goodness, now I know what effect $$$ can do to a person in extreme time.

By: justification

justification — Tue, 25 Nov 2008 13:09:25 +0000

I think there is a mistake somewhere, minibonds are not issued by DBS but other Financial Institutions, there is the other, Pinnacle Notes issued by other local banks. To put it simply, most Financial Institutions are somewhat in this mess, nobody expected a reputable investment bank to simply collapse overnight.

Moreover, retrenchment is not only seen in DBS, it is happening in almost every Bank, not only the Banking Industry is affected but many other industries are all facing the AXE.

You cannot expect to stay in a job for long if you refuse to upgrade and acquire new skills, it is only fair for the incapable to be replaced.

It is recession, wake up. Everybody is in trouble.

By: tiredsingaporean

tiredsingaporean — Thu, 20 Nov 2008 13:30:10 +0000

come to think of it, the whole party actually consists of a handful of old and damaged brains and a large pool of new brains, trying to brainwash an entire nation of working brains!

By: victor @young generation@

victor @young generation@ — Thu, 20 Nov 2008 13:17:17 +0000

wahahahas..
they fear…

By: tiredsingaporean

tiredsingaporean — Thu, 20 Nov 2008 13:15:56 +0000

You want to know why no pro-PAP coming here to post? They are still thinking what to write here, all the time their speeches are all pre-written by a pool of professional script writers, they dunno how to write so they just read. Most of them are new and their brains are all “brand new” never used before!

By: gemami

gemami — Thu, 20 Nov 2008 13:06:04 +0000

100) smallvice585

This is not the time to play hero mah. PAP cannons already misfiring, better to take cover. I think they also got some brains lah. They know a good thing when they see one but when they see so many bad things, better hide their faces first – so malu right?

By: smallvice585

smallvice585 — Wed, 19 Nov 2008 10:13:38 +0000

This site will be great if we have divergent views – pro or anti establishment. If we have 90% anti-establishment bloggers here this site may just become a ordinary site not a solid one I am afraid. A great site gives allowance to other views however different it can be. – Gilbert Goh

Eh! If Singapore got so many pro-PAP people, how come they don’t come to TOC and post?

By: Gilbert Goh Keow Wah

Gilbert Goh Keow Wah — Wed, 19 Nov 2008 10:08:10 +0000

I followed the last few comments closely and saw that there was some disagreement about how TKL was portrayed. You all cornered Sanctus and he was made to defend himself.

Again we all have divergent views. If we can’t agreed we ought to respect each other’s views. PAP has so far showed us that they prefer one-party politics meaning they want to have their own rights and views. Do we want to go along that pathway?

Let us show mutual respect to each other here. Visitors to TOC may be pro or anti-government so let us welcome everyone here.

Obama has made me learned to be magninamous – he told the crowd in his acceptance speech that he will be the President even for those that did not vote for him.

By: saga

saga — Wed, 19 Nov 2008 09:33:43 +0000

DBS retrenchment is a ploy and plot by the new ang moh ceo.
as usual, new ceo would want to bring in their own people. find a reason to get rid of high level staff is difficult but this presents the opportunity. He just take actions and whack a good 900 staff. so later he can tell mgt that he save so much and so much for the year from retrenchment and blah blah blah or he can say he got budget to hire so and so.

this is the pure ang moh style. DBS should get rid of this new CEO and put a local guy or asia guy there. furthermore, he is from morgan stanley, a US failure investment house and cheat investment company.

SACK HIM!!!

By: Frustrated

Frustrated — Wed, 19 Nov 2008 07:54:46 +0000

DBS is not losing money. It is only making less in the 3rd quarter yet they choose to retrench 900 staff. To me DBS and for that matter many other GLCs and TLCs their main aim is to make as much money as possible even in difficult times. Surely in this difficult time, a modest profit will suffice. But unfortunately a modest profit is not enough for many companies, especially GLCs. Agree, companies need to make money inorder to survive and to reinvest etc, but during this very difficult time, why can’t DBS accept a smaller profit?. I can only describe it as greed.
The current chairman of DBS was the chairman of another large GLC during SARS time. He also did the same thing there by using the dreadful axe to retrench a large number of staff. Looks like he carry the big sinful axe wherever he goes.

By: Dr. Albert

Dr. Albert — Wed, 19 Nov 2008 04:22:41 +0000

Referring to 95):
Personally I have to disagree with this observation. NTUC although so called union, it is actually a self selling brand that do not need much pomotion (meaning if you buy any products from them, you buy from them which mainly it is cheap compared to other service provider).

Second to above, who will be more appropriate for it CEO to come out since this is a union based organisation. I think at that time the impression Tan Kin Lian given to me is that he is trying to project himself as a union leader rather than CEO of a company. I guess it is the jacket and tie that says otherwise. Then again, he is the CEO!

To be honest, I am very comfortable with NTUC pricing on the car insurance but not the claim process. It can really piss you off at time! However, I must say that NTUC policy is only benefitial to driver who are discipline in long run. As a matter of fact, it change the way I drive especially I have a family now. This I believe it is still fair and should be credited to Tan Kin Lian who go by the middle path.

By: Agree with Sanctus

Agree with Sanctus — Wed, 19 Nov 2008 00:50:35 +0000

/// 64) smallvice585 on November 17th, 2008 7.09 pm
Who else but the CEO to lead on brand building? If you were the CEO of NTUC Income, would you have done anything different? ///

Not true. Depends on who the CEO is, how photogenic and how well he or she speaks. Frankly, now that sanctus has brought this up (I am not sanctus and I do not know him from Adam – so don’t get sanctimonious with me), I had the impression that the former CEO of NTUC Income was doing the company a big disfavour when he appeared so often on its ads. Each time the ad appear, I thought to myself – this guy can’t speak well, can’t pronounce well and squints his eyes every few seconds. Instead of drumming up businesses for Income, I think he put off potential customers.

Now, please note that I have refrain from personal attacks – just giving my observations which happened to be closer to sanctus’. I have no axes or swords or parangs to grind. Just stating what went through my mind when I saw those ads. The only positive about those ads is that it saved the companies some money instead of using professionals artistes. But I think it would be money well spent if more appealing faces and more professional voice-over were used.

By: gemami

gemami — Tue, 18 Nov 2008 23:37:56 +0000

34) gemami on November 19th, 2008 7.26 am

Ha! Ha! Ha! Ha!

The Shitty Times (online) must be following TOC very closely.

It had copied my post (#81 above) and posted it as a reply to Chua Sheng Yang’s ST forum page letter under the heading, ‘Questions on investment products rally’ in its online portal

It had changed the addressee’s name from ‘Sanctus’ to ‘Dear Chua Sheng Yang’ and signed off as ‘Concerned Citizen’.

Guess what? After I posted my outrage in another thread here in TOC, it immediately took off the post.

It is clear that my post was a reply to ‘Sanctus’ under the DBS retrenchment thread. How in the world did it became a reply to CSY’s forum page letter, only the Shitty Times will know.

Some more can sign me off as a ‘Concerned Citizen’. Do you think I am concern with rubbish scribbled by a dog?

Phui! x10 – so much for being a credible news source – Phui! x another 10.

btw, thanks for showing the world that TOC is more credible than anyone may think otherwise.

By: banker

banker — Tue, 18 Nov 2008 21:35:36 +0000

Most banks have started some form of restructuring and/or retrenchment, mostly on small scale to avoid publicity. It is definitely easier to write off as much costs and losses this year since results are not expected to be good anyway, Apart from DBS, many foreign banks have already started doing so over the past weeks…….Heard that ING and RZB did theirs last week….

By: logicalman

logicalman — Tue, 18 Nov 2008 17:47:31 +0000

86) Amused on November 18th, 2008 3.34 pm

sanctus:

Re: Microsoft & Bill Gates. You kidding me right?

Don’t you find it strange then that if you ask the average people on the street: “Who would you think of first if I say Microsoft?”, the answer would most probably be “Bill Gates” and not “Paul Allen”?

Yes, Bill is synonymous with Microsoft. In fact, the latest Vista ads that flopped featured Bill the man in both installments.

Well, I will put it down to envy. If Mr Tan had failed, the ruling party would have laughed at him. Now that his actions have yielded some results, directly and otherwise, they start casting doubts about his intent and integrity. If he had donned white, I am sure the media would be full of praise for his actions.

By: YODI

YODI — Tue, 18 Nov 2008 15:25:34 +0000

My question is simply this.If a big bank like DBS which is government running and afflilated ot the government does not give a shit and dumps people on the streets what os the government going ot do when other companies do likewise!

They will tell the government if DBS can do it so we can also. So what are you going to say now PAP government to my honest and simple question?