More on things moving out

[Brah]

Further, offshoring — or the practice of shifting work and jobs outside where a company is based — is gaining momentum, with banks moving functions that are stable and have no restrictions from the Ministry of Manpower to a low-cost location.



http://m.todayonline.com/business/banks ... cal-chairs

[the lynx]

Sometimes it makes me wonder who are the real losers in this scenario - the locals who work there, or the government who tries to appease them in the first place?

[JR8]

Well quite. Force foreign banks to hire staff they would at times prefer not to, and [surprise] banks leave.

Presumably there is some new policy on the way that will reverse the exodus before it's too late for the banking industry?

[ecureilx]

Presumably there is some new policy on the way that will reverse the exodus before it's too late for the banking industry?

PAP Has to play to the gallery ..

Or they may give up more seats ....

Catch 22

[JR8]

Well quite. And now Act-2 of the play begins; mebbe it is sub-titled 'When the chickens come home to roost'? ;;

What was Act-1? 'Prized jobs for all, rather than the few'?

'Act-3 Launch new initiative to attract back foreign banks'?

'Act-4/final act - Banks say no thanks we've already moved to a more business-friendly location'?

[Just tongue-in-cheek of course...]

[ecureilx]

Well quite. And now Act-2 of the play begins; mebbe it is sub-titled 'When the chickens come home to roost'? ;;

What was Act-1? 'Prized jobs for all, rather than the few'?

'Act-3 Launch new initiative to attract back foreign banks'?

'Act-4/final act - Banks say no thanks we've already moved to a more business-friendly location'?

[Just tongue-in-cheek of course...]

,