Three in 10 Singapore firms in services sector to reduce headcount, survey shows | Malay Mail

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SINGAPORE, May 1 — Close to three in 10 companies in the services sector said they are likely to reduce their headcount between April and June, while only three in 100 said they are looking to increase manpower. This is according to a Department of Statistics (SingStat) poll of 1,500...

Friday, 01 May 2020 08:28 AM MYT

This is according to a Department of Statistics poll of 1,500 companies in the services sector, the results of which were released yesterday. The survey, conducted in March and April, also showed that the business outlook for the services sector from April to September has slumped, with 60 per cent predicting less favourable business conditions in that period.

From April to June, 42 per cent of F&B firms are likely to decrease hiring and 88 per cent project a drop in income85 per cent of retailers and those in the retail supply chain expect harsher business conditions from April to SeptemberFrom April to June, 27 per cent of firms in the retail trade forecast that their headcount will be reduced and 82 per cent expect their revenue to drop

 

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