Breaking: MOM releases layoff figures for Q3

The Ministry of Manpower has released layoff and redundancy figures for the July to September quarter

According to the Ministry of Manpower (MOM), layoffs decreased last quarter but figures are still higher than a year ago.

MOM stated that 4,100 workers were made redundant in the third quarter, 700 points down from the second but more than 400 points up from the same time period last year.

Redundancies increased in the construction industry, going from 300 to 650, but fell over the quarter in services (2,400 from 3,000) and manufacturing (1,100 from 1,380), they said.

In recent news, Keppel Corporation said that they had cut nearly 8,000 jobs over a nine-month period, underscoring the bleak outlook faced by many companies in Singapore.

A MOM spokesperson added that these numbers reflect “subdued global economic conditions and internal economic restructuring”.

“As we continue to transform our industries to remain competitive and to create and re-create more quality jobs for our people, the tripartite partners will continue to help displaced workers seize new job opportunities through SkillsFuture and Adapt & Grow initiatives,” said the MOM spokesperson. 
 

 

Recent articles & video

Hong Kong agrees to annual review of statutory minimum wage with new formula

Can you terminate an employee based on HIV status?

'There is a local culture and there is corporate culture'

Remote digital jobs to surge to 92 million by 2030: WEF

Most Read Articles

Director cries wrongful dismissal after pregnancy announcement

Gen AI meant to 'amplify human strengths,' not replace them, says expert

Some BOS employees reportedly fired for medical benefits misuse