Saturday, March 28, 2009

Expats' Recession Blues

Source : The Straits Times, March 28, 2009

IT WAS meant to be a holiday to see his elder sister but in the one week that Mr Filip Maes spent in Singapore last April, he managed to secure two job offers - and from top-notch global asset management firms too.

Ecstatic, the Belgian returned to New York, where he was working in hedge fund portfolio financing, turned in his resignation and packed his bags for Asia.

Shortly after he arrived in Singapore last August, however, he received a phone call from his prospective employer telling him that his services were no longer needed - even before his work contract had been signed.

Read the full report in The Sunday Times.

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