Wednesday, May 19, 2010

Restructuring of company

I know of a manager who recently lost his job (after 11 years) due to a change in top management. The new management wanted to resctructure the company (which is an excuse for bringing in his buddies) and asked him to leave. He was offered only 3 months of salary for 11 years of service. The retrenched manager had no option, but to accept this poor package. His termination was not due to poor performance, as he had received a good testimonial from the previous CEO (who has since retired) for his 11 years of service.

This is a need for better protection of workers (including managers) in Singapore from unfair employment practice. The law should provide a fair rate of retrenchment benefit for termination due to reasons other than poor performance.

Tan Kin Lian