Quote:
Originally Posted by tpj2000
Yes, I was reading StanChart plans to cut about 1,000 senior staff while Barclays and Deutsche bank cuts all across the board.
Between Barclays and Deutsche bank, how does their structure adds up? From what I read, Barclays have already moved most of their backoffice operations to India (or they are still moving)
Currently Barclays holds 3,000 headcount and Deutsche bank holds 2,000 headcount in SG. Is it true Deutsche bank has yet to retrench SG position in the last 10 years?
For Barclays, it was rumored that they retrenched 300 SG headcount last year. Source ([url=://singaporenewsalternative.blogspot.sg/2014/02/insider-reveals-500-more-barclays.html]Singapore News Alternative: Is Barclays Singapore planning to retrench another 500 more employees in the coming months?[/)
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You are trying too hard to predict your actual prospect and retrenchment probability by googling around for random big picture articles. Retrenchments and pay cuts in bank is one of those things that will hit you when it hits you, no point keep thinking and analyzing, a lot of times its about luck and wrong place wrong time.
You could be doing the same work with same performance, but suddenly you get fired he gets promotion, god knows why. Those who in banking long enough have seen so many times already.
BO is cost centre and pressure to cut cost is forever there. If you really so panicky cannot stand the uncertainty and want job stability and stable increments & bonuses every year, then banking is not for you.