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Singapore retrenchments hit highest level since 2020

Original: singapore labour market report retrenchments

Singapore's latest labour market report shows retrenchments reaching their highest level since 2020. The Ministry of Manpower says it is reviewing worker support measures in response. New figures also show that professionals, managers, executives and technicians who return to work after being retrenched typically take home 25% less pay than before, highlighting the financial toll on displaced workers.

Why now: Fresh official data showing retrenchments at a multi-year high is prompting concern about job security and government support.

SingaporeMinistry of ManpowerPMET workers

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Evidence

• Retrenched PMETs who return on lower pay see median 25% wage cut · The Business Times
• MOM reviewing worker support measures as retrenchments hit highest level since 2020, Singapore News · AsiaOne

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