Bank of America withdraws job offers to foreign MBA grads
LONDON: Bank of America has become the first US bank to withdraw job offers made to foreign MBA students graduating from US business schools this year, giving its government bailout deal as the reason, the Financial Times (FT) reported yesterday.
The US$787 billion (S$1.2 trillion) stimulus Bill in effect prevents financial institutions that have received money from the United States government's Troubled Asset Relief Programme (Tarp) from applying for H-1B visas for highly skilled immigrants if they have recently made US workers redundant.
The number of international students affected by the BoA move is thought to be no more than 50 but business schools are concerned that other banks could follow suit, the paper said.
A spokesman for the bank told the FT: 'Recent changes in legislation made it necessary for Bank of America to rescind job offers it had made to students requiring H-1B sponsorship.'
The Singapore Government:
Do you desire an international career in Asia's no. 1 place to live, work and play? As the most competitive economy in Asia, Singapore consistently attracts investments from the world's leading multinationals, creating exciting and diverse opportunities for the driven.
We invite you to explore the career opportunities available in Singapore. Be a part of our global talent capital today - apply for your dream job now!
And don't say that's an outdated web page. It's not! Here's the latest news:
Jobs on offer: 800; Applications: 20,000
Those are Sentosa IR's hot numbers; stunning response at Sands too
By Lim Wei Chean & Alessa Pang
A JOB at one of the upcoming integrated resorts (IRs) here is proving to be a really hot commodity - with both Singaporeans and foreigners.
The applicants, she said, were both Singaporean and foreign, retrenched workers as well as those who had jobs, and ranged from professionals to fresh graduates.
A significant number of applicants were also foreigners who flew here just to look for a job.
Filipina Elahn Grace, 28, an English graduate, who arrived two weeks ago, said she chose Singapore because 'it is a safe place and there are many opportunities here'.
Another Filipina, Ms Candy Lopez, 24, lost her job back home as an accountant recently, and decided to come here to try and find employment.
She said: 'I'm just taking a chance to be employed.'
That's the difference between a country and a company - a country cares for its citizens first; A company cares for profits first, over and above anything else!
Btw, that's also the difference between a democracy and a dictatorship - a democracy cares whether its voters are happy or not because votes matter; A dictatorship can't be bothered how its slaves feel, because it knows it will receive overwhelming "support" and "votes" even before an "election" is held!