DBS High-Note 5


DBS (Development Bank of Singapore) and its subsidiary POSBank (Post Office Bank) is considered is central bank of Singapore, where their staffs are mainly concerned by NTUC (National Trade-Union Council), have forgotton to discuss or share with NTUC before layoffs their 900 staffs in Singapore and Hong Kong.

A big hard slap to NTUC as this article stated to put more teeth for NTUC, but to me it is more appropriate to say that NTUC seems forgot where they put their teeth the last time, after too very busy with luxurious resorts they have, big huge bonuses for they are considered Civil Servant, and their ‘absorption’ GST business from their supermarket and groceries chains in Singapore.

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This article even stated that the layoffs of DBS staffs shows a reflection of how powerless NTUC when it deals with management of a company, then what is that $8 membership payment for everymonth to be NTUC member? That doesn’t mean a job security or power in union member.

It’s a very interesting article of DBS and how low the public image against the DBS nowadays.

Street71.

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After being hit badly by the Lehman-Brothers Mini-Bond and High-Note 5 crisis, and several pressures everywhere… DBS Bank finally can’t take it any further, and by using the recession and drop in profit reason, they lay-off 900 staffs in HK and Singapore, the two countries where worst hit by the crisis.

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Full details story of it is in the CNA website as where the above clips is taken from.

Street71.