I READ with interest the report, 'Do we cut jobs to save costs or cut costs to save jobs?' (The Straits Times, Nov 22).
Life is hard for businesses during a recession, especially a global one. However, many companies resort to cutting jobs without exploring other alternatives.
I agree with labour chief Lim Swee Say's statement on Singapore focusing its energy and efforts on cutting costs to save jobs.
It is unfortunate that DBS Bank reportedly did not consult its workers' unions before retrenching employees.
This news was followed a few weeks later by an announcement from Neptune Orient Lines that it would be cutting 1,000 jobs, out of which 50 are in Singapore.
Employers should observe the guidelines issued by the Ministry of Manpower, the National Trades Union Congress and the Singapore National Employers Federation.
Retaining talented, capable and trustworthy employees is a good business strategy, and is key to businesses staying highly competitive and efficient, so that they will be able to grab opportunities and compete aggressively with rivals when the economy bounces back.
