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April 05, 2005
Telekom VSS - spend the money wisely
Telekom's VSS involves 1,898 approved applicants that receive a pay-out of RM138.1 million.
On average, this makes around RM73,000. This is the average - there might be some higher level executives that will receive more, and subsequently a lot of the lower-level executives, that will receive less.
Be it as it is.
I don't know much about the average salary level in Telekom - but let's assume it is RM2,500 per month, than, well, the payout per person will last about 29 months.
If they don't spend too much. What might happen - when more than one person is at home during the weekday, costs tend to go up.
Let me hope that Telekom provides some assistance to employees that took the VSS. To counsel them about their "new life" and the dangers ahead.
Let's hope they don't fall victim to some fast-cash scams. Let's hope that they have a great idea to venture into business and become successful.
All the best to those who took the VSS. It is a decision that surely changes your life.
Posted by Andreas at April 5, 2005 09:45 AM
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Comments
Dizzy Devil: This is good to know that Telekom is treating the employees in a "decent manner" (can I say so?). The challenge is that most of the time, the first VSS is the best package. Everything afterwards is not as good. Sad, for the employees, of curse
BK: Congratulating on handling it in a great manner. I guess you never looked back, rite?
Posted by: Andreas at April 5, 2005 04:56 PM
I am an employee of Telekom Malaysia. The VSS seems to receive only lukewarm response from the staffs, reason being the quantum that they would be receiving (apparently, the current VSS quantum is much less than previous VSS exercise).
However, I wish to add that Telekom's HR is continuosly preparing staffs who opted for the VSS. They will be conducting seminars, talks & workshops on personal development, how to manage their finances, or start a business venture. These would definitely be a great help.
Posted by: Dizzy Devil at April 5, 2005 11:29 AM
I took VSS from my company (a local bank) in 2003. Never regretted it because I value the time I spend with my kids. Yes, we have less to spend now but once the family adjusts to the drop in income level, everything else adjusts accordingly in time. But it's worth it. :)
Posted by: bkworm at April 5, 2005 10:58 AM
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