I think many in SG (not just EM), with one of the highest cost of living in this region - if not the world, especially the 30-40-somethings who are married with children, are all facing the same financial dilemma of high-loans, low cash savings, but with a high asset quanta on property and car(s).
All material wealth from heavy borrowings!
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If you have to count your cash in-flows and out-flows every single month, to ensure that you’re always end on a net-positive balance ….. then you’d be deemed living from hand to mouth already, regardless of the number of assets that you “own” - all on borrowed monies!
Those assets really belong to the banks, who can and will repossess them all, the moment you default on re-payment.
Call it long-tenure mortgage / loans, or whatever that suits your fancy, but it’s still “hire-purchase” to me.
Latest news, AWS retained for 2022.
I got no plan B too. Early 40s, 2 kids. Only 1 house at bukit timah area with long tenure mortgage, a continental car. I can’t afford to lose my job and therefore, I’m shouting we are ExxonMobil even in my sleep and sucking up to my bosses in Houston. This way, I can never be PIPed. Sharing my best practices here so you guys can survive too.
Just hold on until I find a similar pay job. The EM culture has changed. No point staying, no future ~
@5hqwo+16zEvLP3
You speak the truth and I can empathise with that ….. been there, done that.
That was the most perilous stage of my career / life, when loans were high, cash savings short and a budding family with young children - making you (and spouse) most vulnerable, in the event of a job loss.
The supervisors have not been “trained” yet, to perform the PA comms. They will be, in the following week.
By then HR will confirm if a PIL option will indeed be offered, in lieu of a PIP.
For those who claim that they’ve already had their formal PA comm session, I can tell you that it’s a whole load of BS.
HR’s e-mail to all supervisors was just only circulated yesterday - giving the green light to do so wef July 26.
Singapore still have PIL option this year? Anyone knows?
Got mine
Getting my PA comms next week.
Why so impatient? Can’t wait to be PIP issit?
Formal HR directive for 1:1 comma will only be from July 26 onward.
Anyone has their PA ranking results already?
5hqwo+16zEvLP3
Be strong stay strong my friend
To stay or to leave is personal
Not everybody is lucky enough to have the luxury and strong financial backup and can afford to be kicked out
Pretty tough to be in your position just do what you need to do for the sake of your family my friend
I have no Plan B. Early-40s, with 3 school-going kids.
We are high on max bank loans, with little cash savings.
- Housing mortgage
- Second mortgage
- New car loan
- Bank overdraft facility, with 3.8% EIR
- Little cash savings cannot last >1 month
If I lose my job, will need to sell car, sell house and downgrade to HDB :(
And looking for an equal-paying job, at 40-plus, is tough. Many rejections. Many no interviews :(
Does it mean by Oct we will see 8% less ppl ??
Who here has no Plan B? How y'all holding up? I'm just on autopilot mode.
U talk as if u were never here even before you got laid off. LOL P-t kettle black. Btw it’s called Layoff.com not Laidoff.com, so maybe you are the wrong audience BYEEEE
Watch out we have an EM rep here moderating. Lmaoooo (ironically in a layoff off forum)
nah… just you troublemakers giving excuses… if doesn’t come true as per your lies - “things change all the time” if it comes true - “see I told you”
No fake news. Only brutal truths.
Circumstances are fluid and changes quickly. Just because it didn’t come out as per what the forum mentioned doesn’t mean it’s fake. It just means that things change, and therefore, there’s a change in direction.
No wonder gahmen want to have POFMA cos u people no brain to filter out fake news being shared by losers who alrdy got fired! Use ur brain use ur brain!
I see the retrenched still coming here to cause chaos. Arent you glad they were fired and taking a pay cut outside lol
Bottom 8% Need PIP every year, , we better find a new job before EM find excuses to terminate you to reduce operation cost.
For those who are oblivious to reality, the mid year adjustments were for people with strong PA results in 2020. Not for the current PA.
Singapore, don't wait and see!
@5gdkb+16zEvLP3
Eh, lu si Mark Lee stalking this forum si boh?
Don’t take it personally leh!
Only companies like Shopee will be interested.
Buahahahaha !!!
@5gdni+16zEvLP3
Eh hello. Has the PDS 1:1 Comm sessions on PA results even begun yet?
Blur like sotong!
Mid-point adjustment will only be brought up to the deserving, once their PA results are made known (for those in OWD category).
Do you even fit the bill?
By your illogical line of reasoning, I think not … in fact, far from it.
My supervisor says 8% NSI is necessary to compete to win. Coz everyone’s collective performance sucks. True?
Agree, while you might escape NSI this year...what about next year...what about 5 years , 10 years. Each of us are basically a bad year away from getting fired....
Eh hello. Has the PDS 1:1 Comm sessions on PA results even begun yet?
Blur like sotong!
Mid-point adjustment will only be brought up to the deserving, once their PA results are made known (for those in OWD category).
Do you even fit the bill?
By your illogical line of reasoning, I think not … in fact, far from it.
People who fall for fake news and get angry — maybe use your brains more?
For those who remain in EM.....please think long and hard about the long-term prospects with this company. I am referring to the compulsory 8% NSI that is required annually.
Essentially, every one of us has a chance of getting NSIed through the course of our employment....and those in their 30s ....need to think hard if you want to risk getting NSIed in your 40s or 50s.....by that time it is almost impossible to get out.
No mid term adjustment unless you are VP pet (ie very high potential numbers), because outstanding with distinction is a lot more common nowadays.
It’s mid of July and have not heard any information about mid cycle adjustment. Once again prove that this forum is full of fake news.
good to hear that emit jobs wont all go away and we will continue to have a job... i am not too fussy... even if with minimal increment i am ok to stay on in EM. So long i have a job till i retire. That is all i really want. I just dont want to be forced out by NSI etc.
I'm one of those who left, just looking here out of curiosity. Some pretty toxic people on both sides - those that left who come back to mock others, and those that stay chiding those who left.
Look - at the end of the day, we do what's best for ourselves. If you find better opportunities elsewhere, move. Otherwise, you're still in an F500 company. Both ways, you're better off than the average person in SG. Don't make career decisions on emotion.
nah... the company can't move all the EMIT jobs away... those who are left behind will be okay if we just want a job. We already know we are not going to be management what, so what's the problem. Don't live in fear or spread negativity.
Emit folks, look for jobs elsewhere. Because those jobs you are holding on to now is being looked elsewhere by your managers, to shift them overseas to cheaper locations. All the best!
Correction: hired*
what is happening to EMIT? any latest news?