THE public backlash that DBS Bank suffered when it slashed 900 jobs was a classic case of 'first mover disadvantage'.
When times are tough, the first to wield the axe gets all the bad press, says Dr Stewart Black, executive director of the Insead business school's Centre for Human Resources in Asia.
Of course, the bombshell announcement, coupled by the fact that DBS is a national icon and still profitable - it declared a third-quarter net profit of $379 million, albeit 38 per cent less than last year - did not help.
