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  1. #1

    Retrenchment good for economy

    I always thought retrenchment was bad for workers. It still is. After reading this article, it makes me wonder about the impact of retrenchment on a country's economy. If we look from the perspective of a country's economy, it doesn't seem to be a bad thing. A company that undergoes retrenchment has to do it for whatever reason to stay afloat, to remain competitive. Workers who are let go now have new job opportunities that could help the new company.

    你觉得呢?

  2. #2
    Neighbourhood Cat PaulKami's Avatar
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    Quote Originally Posted by Thomasthetrain View Post
    你觉得呢?
    Me? I think you're being whitewashed.
    Kami = 紙 (Paper)
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  3. #3

    Retrenchment good for economy

    What I think? A plate of fried sotong during CNY dinner with the boss doesn't look too palatable to me.
    礼义廉耻,国之四维。四维不张,国乃灭亡。

    菩萨畏因,众生畏果

  4. #4
    CHANTC
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    With a name like Thomasthetrain and your overarching stereotype attitude. Yes, your opinion is full of shit. Retrenchment is good like how viruses are good for health. A trace amount is fine but when it becomes significant, then no one survives.

  5. #5
    Retrenchment sometime bring the best out of people that got retrenched.

  6. #6
    Family man Dr_ARCHer's Avatar
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    I've heard of positive spins to various issues but this one really takes the cake.

    First the article started with the quote “In health you forget the doctor, in comfort you forget God”, suggesting that people will forget adversity if things are OK. But one could argue that it is the fear of doctors that motivate you to stay healthy, and you say grace before a meal to remember God's blessing. So retrenchment should be a word to avoid at all cost.

    Let's look at the reasons being cited supporting retrenchments.

    First, it was argued that retrenchments is a means to get rid of inefficient companies. Yes, but amputation is a means to get rid of gangrene so there is no need to fear amputation. The thing is, you should fear amputation. And to avoid amputation, you should avoid getting gangrene. In the same way, if we fear retrenchment, we would want to avoid it, and to avoid it, we should not be inefficient. Inefficiencies don't happen overnight, so companies should have ample time to correct for their mistakes without resorting to retrenchments.

    The article says that in retrenching manpower, companies release the manpower back to the labour market. But in an efficient labour market, productive and efficient manpower would have moved out of the companies long before retrenchments take place. Yes, companies are not charities and inefficient companies would have problems meeting the cost of efficient labour. But then again, if companies have the option of replacing the labour with low wage foreign workers, then they would more likely go down this path rather than improve efficiency and pay competitive salaries. Didn't someone once say that cheap foreign labour is like a drug and companies can get hooked easily?

    Implied in the article is that when you get retrenched, you can continue your career with another company from where you left off. I don't have the data but I have a feeling based on anecdotal evidence that retrenched workers tend to start at a lower level from where they are left off. From an economic viewpoint, precious resources are also wasted because the training costs incurred on the staff that will be retrenched will not be recoverable as the new employment might not make use of the training, and there is usually a period of learning (and hence inefficiency) when starting on a new job.

  7. #7

    Retrenchment good for economy

    Professor jiu Shi professor

    Bu Shi professor Jiu bu Shi professor.
    礼义廉耻,国之四维。四维不张,国乃灭亡。

    菩萨畏因,众生畏果

  8. #8
    CHANTC
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    Quote Originally Posted by Dr_ARCHer View Post
    I've heard of positive spins to various issues but this one really takes the cake.


    Didn't someone once say that cheap foreign labour is like a drug and companies can get hooked easily?

    I don't have the data but I have a feeling based on anecdotal evidence that retrenched workers tend to start at a lower level from where they are left off. From an economic viewpoint, precious resources are also wasted because the training costs incurred on the staff that will be retrenched will not be recoverable as the new employment might not make use of the training, and there is usually a period of learning (and hence inefficiency) when starting on a new job.
    Bloody damm right about how I feel about retrenchment. Put NS, marriage and pressure to support parents in old age for the average joe and suddenly the Singaporean is 'inferior'. Pretty ****ed up shit. I am just lucky that I am much more blessed than most Singaporeans to survive comfortably.

  9. #9

    Retrenchment good for economy

    If you have a family to feed and loan to pay, I wonder you will think it is a great idea. If you are a single and is bore to death with the current job and looking forward to a change, then it is a great opportunity. So, not everyone can afford retrenchment. However, should it happen, you must be ready since there is simply no protection.

  10. #10
    It's just part and parcel of how the system works. During the boom created by cheap credit, it distorts the perception of value across asset class. This causes companies, individuals, even countries to mis-allocate resources, whether is through hiring more manpower than is sustainable through revenue generated with the cheap credit etc...
    If one can't understand this, just look at it from your own perspective in buying cars, properties etc... its the same situation except involving bigger entities. The same motivation, fears, greed etc.. is involve.

    This is obviously not sustainable. So when the correction occurs, it will revert to the mean or even overshoot, which is when retrenchments occurs. Whether is it good or bad depends on the perspective one takes. But it is as inevitable as say raining. So when u see the storm clouds forming its time to keep the laundry.

    What I vehemently oppose is when the big brother steps in and rescue those who make the wrong decisions at the expense of the prudent.
    Last edited by Arugula; Jan 30th, 14 at 09:26 AM.
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  11. #11
    Family man Dr_ARCHer's Avatar
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    Which is better?

    To say retrenchment is good, and continue to condone inefficiency?

    Or to say retrenchment is bad, and work towards reducing inefficiency?

  12. #12
    Ya all fired. We only hire slugs.

  13. #13
    Neighbourhood Cat PaulKami's Avatar
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    Thomasthetrain only start a topic that are whitewash, and then farm the feedback and get away with it.

    I reckon we should only respond if the topic are worth discussing. VR-Zone is not a data-farm. No survey, no non-participating topic!
    Kami = 紙 (Paper)
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  14. #14
    Family man Dr_ARCHer's Avatar
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    As long as no clone accounts are created and used to 'simulate' discussion, I think we can rebut any whitewashed topics.

  15. #15
    Newbie of Now and Forever wwenze's Avatar
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    None of us regular repliers are saying anything useful anyway

    We all on auto-pilot and posting a predetermined set of replies, and then certain people will thank certain people.

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