S'pore retrenchments climb in Q1: sharper rise among degree holders and older workers

[True Believer]

MOM's latest quarterly labour market report shows that lay-offs have risen to 3,830 in Q1 2026, which is an increase from 3,690 in Q4 in 2025. While MOM claims this is mostly driven by restructuring or re-organisation rather than cost-cutting, with retrenchments mainly in manufacturing, financial and professional services. In simple English, this means that companies may be highly profitable, but are changing their strategy i.e. adopting AI, automating tasks or shifting focus from one product/service to another. Employers are letting go of staff whose skills no longer fit their future plans, while hiring for new roles in different depts. Of course, this also means that older employees are being laid off to accommodate younger new hires who are cheaper.

https://www.channelnewsasia.com/sin...egree-holders-employment-jobs-q1-2026-6183016

 

[GOD IS MY DOG]

good what.................always a good thing when PAP voters get what they voted for..................they don't even want a job in the 1st place what............

 

[True Believer]

In the midst of this sharp rise in retrenchments, all that useless Tan See Leng can say to local grads during a press conference by the S'pore Economic Resilience Taskforce is to "stay calm" and "keep an open mind to different opportunities in their job searches". This is the mother of all motherhood statements! This dumb ass is paid more than $1 million a year to tell us the obvious.

 

[Pinkieslut]

Wonderful news! Most Sinkies are JLBs I prefer my CeCa talents!