DBS Group, South-east Asia's biggest bank, will cut 900 staff from Singapore and Hong Kong or 6 per cent of its workforce by the end of this month to reduce costs, its CEO Richard Stanley said on Friday.
DBS had earlier on Friday posted a 38 per cent drop in quarterly profit, below expectations, as losses from bad debts quadrupled and it warned the financial crisis has made business challenging.

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Following the American style..cut chop cut!

People Begining To Lose Credibility !!!

Not even DBS listening to the labour and government guys...this is the tip of the iceberg on firings...

"The cuts will be across various business units and at all levels of seniority..."

I wonder who the age group got the most hit..hmmmmmmmmmm

sorry typo..

which age group..

Poor DBS staff. My sympathies.

Cheap attempt by DBS management to boost its share price.

Just Remember " All Employees "
Your Company Has No Sentiments Or Concern For You !!
Your Employer Only Cares For Profits !!
You Have Been Shown The " Exit Door " Because Of " Greed " !!!

obviously when profits go down by a big chunk, employers are not going to be kind and think of their employees' rice bowl. Send employees for training during this time?? fat hope! because that means spending more $$$! rather axe than to incur more losses. I just pray for the 900 employees who are going to be axe, that they had enjoyed maximum bonus available during past years of bull market. Hopefully they had saved up some of those bonus. If not, they will know the real meaning of 'enjoying 1st, suffer later'....