#208 retrenchments and wage cuts

Singaporeans are forewarned there will be retrenchments and wage cuts during this recession.

Who are the ones to be retrenched? Will those in the 50s of age bracket be the first to go? The rationale that the older ones are higher wage earner…but the new intake start with higher starting pay without experience!

What about rents on commercial properties? Will there be a freeze or lowering of rates?

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#207 who do you trust?

Having money is a problem these days. Putting money in the bank is no consolation either.

You lose your hard earned cash when a financial institution collapsed. I was told you could file for misrepresentation — that the profile of products bought did not suit the personality of one. How does this work?

The high turnover of officers serving you in the banks leaves one insecure and lacking continuity especially for the smaller or new savers. 

Why the high turnover of bank officers? The officer has to perform, otherwise the manager will be breathing down his neck daily. Should he not perform according to portfolio, the officer is shown the exit. If he did well, he was rewarded handsomely.

The latest news: Iceland is a country that is going bankrupt! What does that mean? Will those who had savings in the banks see these evaporate?