Friday, June 6, 2014

For 2013, Barclays axed 1200, Standard Chartered axed 200 in Singapore

According to Bloomberg,

Barclays had 3,500 full-time employees in Singapore in October 2013, according to a press release marking 40 years in the country. That was down from 4,700 about a year earlier, bank data from September 2012 show. 
Standard Chartered reduced the number of its employees in Singapore to about 7,400 at the end of 2013 from 7,600 a year earlier
Our main stream media is remarkably muted on these events. We only get to hear how good Singapore economy is. Nevertheless seeing shylocks going unemployed is a wonderful thing. I do not have any pity for those in the business of usury, cooking toxic product and creating dynamites everywhere.  

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