Tag Archives: Layoff

LOSS-MAKING MALAYSIA AIRLINES TO RETRENCH ENTIRE 20,000 WORKFORCE

Debt-ridden Malaysia Airlines (MAS) is likely to lay off its entire workforce of 20,000 to start afresh as as a smaller airline with a regional focus rather than international, a media report said on Monday. MAS, one of Malaysia's biggest government-linked companies hit by twin tragedies of MH370 and MH17, will terminate the job of its 20,000-employee workforce, and then offer new contracts to two-thirds of them, the Straits Times reported.

Read More »

GOLDMAN SACHS TO CUT 30% OF INVESTMENT BANKING JOBS IN S’PORE

Goldman Sachs Group Inc. is reducing the size of its investment-banking team in Singapore by about 30 percent compared with the start of the year, people with knowledge of the matter said. Ruben Bhagobati, Goldman Sachs’s head of Southeast Asia mergers and acquisitions, and Singapore-based managing director Antoine Izard are among those departing the firm, according to the people.

Read More »

38% grads can’t find job within 1 year of layoff

According to MOM statistics released last month, only 62% of degree holders are able to find a new job within 12 months of losing their job last year. That means, 38% of them can’t find a job within 1 year after they are laid off. This is compared to the next lowest rate of 65% for workers with polytechnic diplomas and professional qualifications, and the highest of 71% for those with secondary qualifications.

Read More »