Retrenchments in Singapore more than double to 8,130 in Q2: MOM

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This was sharply higher than the preliminary estimate of 6,700 released in July, as well as the first quarter figure of 3,220.. Read more at straitstimes.com.

SINGAPORE - Retrenchments more than doubled to 8,130 in the three months to June, compared with the first quarter, according to Ministry of Manpower data released on Monday .

It could have been worse - the ministry said cost-saving measures adopted by firms and Government support initiatives "may have cushioned the overall impact on jobs". Locals, that is, Singaporeans and permanent residents, formed the bulk of the 42,190 employees on short work weeks, while foreigners were the majority of the 43,720 on temporary layoffs.

 

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