Word: singaporeâ
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...Singapore, it seems, is suffering somewhat less than it appears. Unlike the U.S., where companies slash jobs at the first sign of financial trouble, many of Singapore???s largest companies are controlled by the government. Retrenchments at such government-linked giants as offshore oil rig builder Keppel Corporation, shipper Neptune Orient Lines, or DBS Bank are considered a last resort, after pay cuts, reduced employer contributions to retirement funds, and unpaid leave. A spokesperson for Singapore Airlines, for example, confirmed that in early April roughly a tenth of the airline's 14,000 employees had agreed to take unpaid leave...
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