NTUC chief, Lim Swee Say, disappointed over DBS layoff decision

Labour chief, Lim Swee Say, expressed disappointment at DBS’ “sudden decision” to retrench staff and noted that this is a “regrettable” move that has weakened trust between the management and union.

'Ground reaction is critical and highly negative,' he said in his first public response to the job cuts by DBS - the first prominent lay-offs in Singapore amid the global credit crunch.

As part of an eight-paragraph statement released to the media on 14 Nov, Mr Lim urged companies to not use retrenchment as the first resort.

Mr Lim said NTUC does not “demand zero retrenchment” because it knows “that at times it is better to let go some workers so the remaining workers can survive and keep their jobs, rather than the business fail and all workers lose their jobs”. However, NTUC will not back retrenchment as the first resort because “there are alternatives for us to explore together to reduce cost and save jobs”.

Mr Lim also emphasised that NTUC's top priority is “to guard against a massive rise in retrenchments and a rapid rise in unemployment”.