Singapore’s major telco company also claims their retrenchment package is ‘more generous’ than most
Retrenchment exercises are never easy affairs, whether announced or otherwise. After announcing a layoff of 300 of its 2,500 employees last month, a number of StarHub’s affected employees were left in shock and tears when the exercise started on Monday (29 October).
Lasting a week, retrenched employees received their notices and were offered an “above-average” retrenchment package.
Without confirming details of the package, StarHub said its “overall package is more generous versus market practice”.
“As a responsible employer, we are following the manpower guidelines laid down by the Ministry of Manpower closely,” the telco said in a statement. “We intend to treat our employees fairly in recognising their past contributions, with sensitivity and respect.”
They are currently working with industry partners to support affected employees in retraining and finding new employment. They added that most of the affected employees hold “non-customer-facing positions”.
According to TODAY, a majority of those affected were senior managers who had worked in the company for more than 15 years.
As staff were informed of the exercise a month in advance, some said they were “not surprised” but others said there was “drama” when the retrenchments started on Monday. Some of the affected staff were crying as they didn’t expect to be laid off.
Others were simply happy with their retrenchment packages, with one staff member saying some of his colleagues had requested to be part of the exercise after hearing details of the package. They were worried that any follow-up exercises will not be as generous in compensation and benefits.
Another employee told TODAY that they are expecting life “to be hell for the next few months” as there was a lack of proper handovers and increased workloads looming.