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chip-maker AMD lays off more than 50 s’pore staff
By Patrick Lim  •  November 24, 2011

it was reported in the straits times today that a chip-making giant, AMD retrenched more than 50 of their staff. what is worst is that this is likely to be the first of two rounds of retrenchments.

a technician identified as ravi was one of the employees retrenched and he said:

"it was a very sudden thing, we always thought it would happen to other people and our jobs were safe, but now it's happened to us."

AMD said the retrenchments were part of a global restructuring plan and the exercise aimed at strengthening its competitiveness, and emphasised that singapore remained a vital part of its operations.

my comments:

i can certainly emphatise with mr ravi and those who received their pink slips from AMD yesterday. like what mr ravi opined that he thought his job was safe and it will only happen to others. but in real life, ......
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By Patrick Lim
Patrick is an Associate Director with Promiseland. He has more than 20 years of personal investment experience both in stock and shares and unit trusts. In his early years as an investor, he got burnt really bad in the infamous 1987 crash and again during the clob incident. With 2 decades of so-called battle scars behind him, the last few years (since 2003) have been good to him especially with his single country funds doing exceptionally well. On his investing style, he is both a technical analyst and fundamentalist. Patrick view wealth accumulation as part and parcel of the wealth management process but only if one has already executed his/her wealth protection planning on an on-going basis.
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