Thursday, February 19, 2009

Survivor...?

Our reduction in force exercise is finally over. They started yesterday and finished today. I am glad to report that I survived and my group of ex-Intel colleagues also survived. This is a good thing for me since the package was not that good for those who are employed for less than 3 years. You will only have a 0.5 multiplier for every year (and pro-rated I think) and I have just been with Amadeo for 2 yrs and 5 mos. In fairness to Amadeo, at least they are still giving a package even if you are employed for less than 3 yrs. Under the Singapore Employment Act, only those who are employed 3 years and above are entitled to a retrenchment package. So I guess they are still being generous despite the current financial crisis.

BUT, there are still some rumors that we will undergo some organization re-structuring and after that there will be another round of retrenchment. Wait and see again....

3 comments:

nel's bebi said...

hay kaloka talaga ang recession ano?! kami nga bukod sa forced leaves last christmas season, may paycut pa ng start of '09 =( pero i guess better na talaga yan kesa malayoff

chepot said...

kaloka talaga! nag forced leave din kme dun christmas at chinese new year. ayun negative na leaves ko hehehe... tsaka me paycut din kme starting this feb '09 payday...

Sun Jun said...

go chepots!

you're a survivor!
keep on surviving! hehehe ^^