Jobs Credit Scheme which was introduced in the last Budget was aimed at preventing retrenchment.
Unfortunately, since its announcement, companies that still opt for retrenchment includes:
Panasonic, 18th March 2009
Delphi Automative, 15th March 2009
StatsChip, 11th Feb 2009
Deutsche, 7th Feb 2009
Chartered Semi-conductor, 30th Jan 2009
and, possible to retrench; Nokia
What I had listed above are some of the names we are familiar with. View the whole list here: Jobscentral Retrenchment.
7 comments:
The job credit does help my company to avoid implementing pay cut
I'm glad to hear that :) it should since that the objective of the JCS.
The author of an article found in: http://www.transitioning.org/?p=624
had made the point that the Job Credit Scheme will not work. There will of course be some hits but possibly many losses when a shot-gun approach is taken.
The question is, is the JCS the best utilisation of taxpayers' money from a cost:benefit perspective. It may seem not.
A method, which many other governments resort, to create jobs is however suggested. The comments found in the posts are worth reading.
Thank you for the info :)
Thanks for listing the companies...it's just what I needed for an article I'm writing...:)
U are welcome, Gerald :)
I think a policy becomes very questionable when its created not because of a sincere need to achieve results, out of what's needed as accorded by numbers, but because of politics, where the govt needs to seen to be doing something.
The sad thing is that they just don't care about the overall effectiveness of the policy and the results; this is after all, a results orientated business and they ignored it at their peril.
There's a reason why Obama abandoned it early. The PAP should have done more research instead of just looking at politics.
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