Singapore News

News from Singapore

Less incentives for potential hires

Posted by jtsmyth8 on October 15, 2008

Tough economic times have forced companies to cut back on perks. Housing allowances, bonuses, and exclusive club memberships now no longer offered. Lengths of contracts normally 12 months are being shortened to 6 months. Now only positions deemed critical are interviewing job candidates. Traditionally a seller’s market has turned into a buyer’s market. Companies can afford to be more selective when hiring. This recession has forced even large companies into cost cutting measures to ensure long term financial stability. Despite the slowdown Asia tends to be more fiscally sound than the Amercas and even Europe. (more)

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