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What is the chance I'll lose my job in Singapore? How soon?

Discuss about getting a well paid job or career advancement. Ask about salaries, expat packages, CPF & taxes for expatriate.

If and when will i lose my job?

By the end of this year
4
57%
beginning of next year
2
29%
after a few years
1
14%
 
Total votes: 7

Utsav
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What is the chance I'll lose my job in Singapore? How soon?

Postby Utsav » Sun, 02 Mar 2014 9:29 pm

Hi,
I am an expat of Indian origin, age 31, living and working in Singapore for the past seven years. I work in a bank which is now moving jobs out of Singapore to cheaper locations. I work in product control/risk and there's news our department might become redundant as jobs are going offshore. My salary has stagnated for the last two years.
I plan to do an MBA and I've informed my Manager of my plans. However I've told them I don't plan to leave as there's no guarantee I'll get through.
They've assured me my job is safe till at least 2015.
What is the chance I'll lose my job and how soon?

Utsav
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Postby Utsav » Sun, 02 Mar 2014 9:45 pm

I am in Singapore on an Employment Pass btw, my PR application has been rejected more than once.

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rajagainstthemachine
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Postby rajagainstthemachine » Sun, 02 Mar 2014 9:47 pm

Facepalm** are you asking an internet community to speculate on your career and future?
To get there early is on time and showing up on time is late

Utsav
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Postby Utsav » Sun, 02 Mar 2014 9:54 pm

rajagainstthemachine wrote:Facepalm** are you asking an internet community to speculate on your career and future?


Why not? I don't know who else to ask & people here will have a fair idea of the job market & how things work here

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sundaymorningstaple
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Postby sundaymorningstaple » Sun, 02 Mar 2014 10:50 pm

Pretty good I'd say. How soon? How long is a piece of string? Tomorrow? Next Week? 10 months? Do you believe your company knows what is going to happen next week, to be able to say with certainty you will be here till 2015?

Utsav
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Postby Utsav » Sun, 02 Mar 2014 11:47 pm

Any other replies especially from people who've been through a similar experience as well as anyone else voting will be much appreciated

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Wd40
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Postby Wd40 » Mon, 03 Mar 2014 12:29 am

I remember reading an article on efinancialcareers that product control jobs are low end of the spectrum and they are moving to India or Philippines. Its just a matter of time.

http://sg.finance.yahoo.com/news/bankin ... 30422.html

Regarding your situation, it really depends on the bank and how its reputation is regarding its employee friendliness and ethics. If you work for the same Swiss bank that I work then I would trust the person that told you that your job will remain until 2015. But then you never know 2015 is still very far and it just takes someone at the top to decide that they want to finish off the team and the people who promised you that your job will remain, they themselves might face the axe/have no control over it. It also depends on whether the decision is strategic or due to budget constraints. If they dont have the budget, then they could fire you anytime.

If you work for the British bank that starts with B, I wouldnt trust them at all. They hire and fire all the time.

Utsav
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Postby Utsav » Mon, 03 Mar 2014 1:30 am

Thank U Wd40

yogaloungeforever
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Postby yogaloungeforever » Mon, 03 Mar 2014 7:12 pm

Or a bank starting with C - that's another one to watch out for when it comes to easy hiring and firing

Wd40 wrote:.......

If you work for the British bank that starts with B, I wouldnt trust them at all. They hire and fire all the time.
Life is short hence I live it to its fullest, that is .... I eat and sleep

Utsav
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Postby Utsav » Fri, 07 Mar 2014 11:40 pm

As I'm in Singapore on an Employment Pass rather than a PR, am I more likely to be fired?

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ecureilx
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Postby ecureilx » Sat, 08 Mar 2014 12:51 am

Utsav wrote:As I'm in Singapore on an Employment Pass rather than a PR, am I more likely to be fired?


from what I have seen, your residency status will have zero effect on culling decisions unless your supervisor has a bit of soft corner and tries to protect you .. you may have a small safety net, till your superior's own position becomes precarious ...

from upper management level? no... they wouldn't care less ....


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