Bonuses in private sector would be lower than that for 2011 says SNEF President
Private sector bonuses for 2012 are expected to be lower than that given out last year says President of the Singapore National Employers Federation.
Speaking to MediaCorp on the sidelines of a company opening this morning, Mr Lee says there are several forces at play.
He says they include Singapore's GDP growth which is expected at the lower end of the 1.5 to 2.5 percent range and much would also depend on the performance of the different sectors.
"Most of the export sectors are not doing very well. Some of the domestic sectors like construction and healthcare are still doing ok. So I think the demand for labour, the low GDP growth and the negative productivity are the forces that would decide this year's bonus. The private sector the bonus should depend on their annual result and if some companies do well they should reward their workers fairly"
MORE SINGAPORE NEWS
Latest Photo Galleries on xinmsn
Ukrainians protesting against the government's rejection of a key pact with the European Union topple the statue of Russian revolutionary le... More Ukrainians protesting against the government's rejection of a key pact with the European Union topple the statue of Russian revolutionary leader Vladimir Lenin in central Kiev, police say. Duration: 00:52
Date 22 mins ago, Duration 0:52, Views 0