1.2K tech employees laid off in Singapore
A total of 1,270 resident workers in Singapore’s technology sector were laid off between July to November, according to data released by Singapore’s Ministry of Manpower (MOM).
Manpower Minister Tan See Leng said that out of the total retrenched workers, around eight in 10 worked in non-tech roles such as sales and marketing.
Meanwhile, seven in 10 were aged 35 and below, which is consistent with the low median age of employed residents in the information and communications sector.
The number retrenched in less than five months is significantly higher than the annual average of 790 laid-off workers from June 2017 to June 2022. However, Tan said that the sector’s retrenchment figures over the last five years remain relatively low compared with the average annual employment growth of 8,100 resident workers over the same period.
The minister added that tech companies in the country had hired 7,000 residents during the first half of 2022.
Meanwhile, Tan noted that half of the tech firms that retrenched workers between July and mid-November had provided career transition services for them.
Singapore’s Taskforce for Responsible Retrenchment and Employment Facilitation is also reaching out to all affected local employees with information kits on job fairs, career advice, and coaching services to find new employment.
The ministry said that seven in 10 retrenched workers in the tech sector who sought help from the task force last year found new employers within six months.
