SINGAPORE - Technology firms here reported 1,270 layoffs of resident workers from July to mid-November, said Manpower Minster Tan See Leng on Monday.
There have been a series of layoffs from tech companies in Singapore such as social media giant Meta and conglomerate GoTo due to global economic headwinds and flagging investor confidence in the sector. But Dr Tan said retrenchment figures in the tech sector over the last five years remain relatively low, compared to the average annual employment growth of 8,100 resident workers over the same period. He also noted that tech companies hired 7,000 residents in the first half of 2022.
“Taken together, this reflects that there is strong supportive capacity across the larger economy and opportunities for affected workers to fill in-demand roles.” In response to Ms Pereira, Dr Tan said those retrenched from tech roles in tech firms generally have been able to find a new job much faster than their peers retrenched from non-tech roles. This has prompted the task force to focus on helping non-tech workers to upgrade their skills and improve their chances of finding a new job.
I cannot stand this apartheid system where they only care and report about the “resident workers”. In Singapore, all the other foreign workers are simply treated like slaves or dirty balast.
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