30 results, {{pagination.index.feedback}} 3. All you need to know to start your day, right in your inbox. Follow the latest news and comprehensive coverage on RETRENCHMENT at CNA. The Singapore government is on track to secure COVID-19 vaccines for all Singaporeans and long-term residents by 2021. Get more information about JOB CUTS at straitstimes.com. Singapore Airlines kicks off retrenchment exercise; affected staff to be paid until Dec. 15 . Have you addressed these areas? 24-Sep-2019. Those with less than 2 years’ service could be granted an ex-gratia payment out of goodwill. CAAS and Thales establish joint aviation innovation research lab . Commentary. 25-Feb-2020. The Covid19 pandemic has changed Singapore's politico-socio-economic landscape, so the SDP has drawn up 5 focus points to deal with these changes in the immediate and long-terms. retrenchment Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Unemployment Rate in Singapore increased to 3.60 percent in the third quarter of 2020 from 2.80 percent in the second quarter of 2020. Opinion. This is as labour numbers typically tail behind the economic growth cycle by one to two quarters, he says while referencing the republic’s latest GDP figures. Read the latest Singapore news, courts and crime, social, politics, education, trending news and more. 07 December 2020. If you have decided and will be going through a retrenchment exercise, you are strongly encouraged to submit a notice of retrenchment. An M1 spokesperson told Mothership that the retrenchment … Preliminary retrenchment figures in 2019 is 10,700, consisting permanent employees (9,900) and contract ones (800). Employees who have served the company for at least 2 years are eligible for retrenchment benefits. Go. COVID-19: Labour movement urges firms to protect Singaporean workers | Video, Retrenched workers cut expenses, take on temporary jobs | Video, Retrenchments in Singapore spike in first half of the year, surpassing SARS peak: MOM | Video, Retrenched workers face challenges upskilling in search for jobs amid COVID-19 | Video, Only a quarter of BP's 10,000 job cuts to be voluntary, Retrenchment benefits law does not guarantee better outcomes for employees: Josephine Teo, Cathay Pacific pilots push for seat at table for restructuring talks, Airbus CEO: We can't guarantee no compulsory layoffs, SIA crew recount 'sad day' when airline announced retrenchment exercise, Retrenchments in Singapore spike in first half of the year, surpassing SARS peak: MOM. Singapore Airlines (SIA) and Vistara, a joint venture between Tata Sons Private Limited and SIA, have signed a Commercial Cooperation Framework Agreement. Read more. ALL NEWS; WEEKLY; BREAKING; TODAY'S PAPER; LIFESTYLE; OPINION; … Amount of compensation. Reporting Retrenchment Benefits [DOVER] A slew of countries closed their borders to Britain on Monday over fears of a highly infectious new... [LONDON] Britons rushed to supermarkets on Monday to stock up for Christmas after stricter pandemic rules meant last... [KUALA LUMPUR] A Malaysian glove maker has denied hundreds of its workers are living in metal shipping containers in... [AMSTERDAM] Europe's medicines regulator on Monday approved the use of the Covid-19 vaccine jointly developed by US... [DUBAI] Saudi Aramco Development, a subsidiary of Aramco, has teamed up with Google Cloud to offer cloud services to... By signing up, you agree to our Privacy Policy and Terms and Conditions. It is intended to provide general information only. Unemployment Rate in Singapore averaged 2.44 percent from 1986 until 2020, reaching an all time high of 6 percent in the first quarter of 1986 and a record low of 1.40 percent in the second quarter of 1990. Please confirm for access to all your SPH accounts. Wine and dine or plan your next holiday with BT’s weekend newsletter. Source: Ministry of Manpower. Singapore News - The number of retrenchments rose in the first quarter of this year, with the majority of those retrenched being 40 years old and above. (i) The one-month salary in-lieu of notice received by Mr Tan on 30 Dec 2019 is taxable in the YA 2020, alongside his salary and bonuses received in the year 2019. Data on retrenchment are useful in monitoring the impact of an economic downturn or restructuring on workers and in identifying industries which are re-structuring or ailing. RESEND VERIFICATION EMAIL. ... M1 retrenched 50 Singapore employees in February 2020, according to an official statement. Keep up to date with the Singapore Tech News, Stories, and Community Insights from Asia's Tech Ecosystem ... Latest News. This brought the total number of retrenchments in the first half of 2020 to 11,350, said MOM on its report. In the latest Ministry of Manpower (MOM)’s labour market report released on Monday (14 September), it revealed that the retrenchment more than doubled to 8,130 in the second quarter of 2020 from the first quarter figure of 3,220.. 2020 could see the worst recession in the whole of Singapore's existence as a nation. Apart from unhappy customers in certain markets, they seem to also be facing some unhappy partners in Taiwan. THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. premium content on your favourite platforms. A round-up of all the important things that happened today. Introduced in February 2020, the budget focused on providing short-term financial support for businesses and families impacted by the outbreak. the Ministry of Manpower ("MOM"), the Singapore National Employers… South African Broadcasting Corporation (SABC) employees at the public broadcaster’s headquarters in Auckland Park, Johannesburg, say they are stressed due to uncertainties about their future amid the retrenchment … Employment. THE BUSINESS TIMES Opinion - Find Opinion News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. 10 out of Featured news releases. Things To Eat. Notify MOM of retrenchment. Retrenchment In Singapore. Summary of retrenchment, layoff and job cut news in Singapore and Asia 2020, and how to know if your industry is affected Retrenchment benefits are payments given to employees to compensate them for the loss of employment. Summary Table: Retrenchment Retrenchment refers to the termination of permanent employees due to redundancy and early termination of term contract employees due to redundancy. How bad is the retrenchment situation in Singapore, and how much worse it will get Saturday, 15 Aug 2020 02:43 PM MYT Even as retrenchment figures rise, the official numbers may still not capture the full picture since they do not include firms with fewer than 25 employees or affected workers in the gig economy, economists told TODAY. Share. Sleepless nights for SABC employees amid retrenchments 26 November 2020, 6:31 PM. Hence, helping businesses stay afloat and safeguarding employees’ livelihoods are equally important. New restaurants, cafés and menu updates to check out in Singapore including Restauraut Euphoria, 1-ATICO and more. HRD finds out how the Ministry of Manpower handles employee complaints BY Nurhuda Syed 04 Nov 2020. September 15, 2020. See news report below. For further queries, please contact: Ministry of Manpower Online enquiry www.mom.gov.sg Singapore National Employers Federation (SNEF) Industrial and Workplace Relations Business insights about the fast-growing Asean market. We have been told over and over again that foreigners to cushion unemployment of locals in a downturn of the economy. The U.S. dollar-Singapore dollar exchange rate is forecast at 1.3400 for end-2020, down from 1.3700 projected previously. The COVID-19 has significantly impacted the livelihoods of businesses and employees. Statistical definitions, concepts and sources on: Retrenchment Last updated on 06 November 2020 10:13:58 Best viewed using IE 11, Firefox 12 or Google Chrome … Read more. By clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp's partners. Hot Deals. 1 of 2 Go to page. The year 2020 has taught us many things but one message really resonated — the call to be confident, passionate, and committed to being true to one’s self. Today’s print edition of BT, delivered to your inbox. SINGAPORE — According to the Ministry of Manpower’s (MOM) latest labour report, while retrenchments fell from 3,230 in the first quarter to 2,320 in the second, the number of PMETs who lost their jobs increased from 1,440 to 1,680, making them the bulk of those retrenched. Loyal. RESEND Latest Singapore news: Breaking news, top stories on courts, crime, housing, property, health, transport, jobs and education on CNA, as well as videos and features. What happens if a retrenched employee accuses you of carrying out ‘unfair dismissals’? SINGAPORE — A number of StarHub staff were left in shock, and tears, at the telco’s headquarters in Ubi this week, as they received news that they had been retrenched from their jobs. Retrenchment due to restructuring. News; News; The consequences of 'unfair' retrenchment practices in Singapore. Drama. Speaking at an Assocham convention, Modi highlighted reforms spanning from the manufacturing … We will continue to monitor the situation and provide updates on any changes as soon as these are communicated to us. MARKETS. JCB India bites the retrenchment bullet, sacks 400 permanent employees. ... 2020, 1:26 pm . "Is it really a retrenchment?" The coronavirus pandemic and the extended lockdown has had a clear impact on South African companies, with various government bodies reporting an increase in retrenchment and insolvencies. A string of negative news has been surfacing out of Honestbee’s hives around the world. SINGAPORE — According to the Ministry of Manpower’s (MOM) latest labour report, while retrenchments fell from 3,230 in the first quarter to 2,320 in the second, the number of PMETs who lost their jobs increased from 1,440 to 1,680, making them the bulk of those retrenched. Mediacorp Pte Ltd. All rights reserved. The author of the FAQ cites the Employment Act for the definition of a retrenchment. According to advanced estimates forecast on July 29, there would be 9,920 layoffs in the first half of the year. Read the latest Singapore news, courts and crime, social, politics, education, trending news and more. 198402668E. Please confirm for access to all your SPH accounts. More at the end of this article. One of Southeast Asia's most modern and dynamic cities, Singapore is also one of the most visited cities in the world. This service is not intended for persons residing in the EU. ... in its latest labour market report. Covid-19: S'pore could see 150,000 to 200,000 retrenchments, negative GDP growth of 6%. Please note that the information in this article is accurate as at 20 October 2020. Times are tough and the company is considering a retrenchment exercise – how can you help keep the process sensitive and fair for everyone? © 2020 SINGAPORE PRESS HOLDINGS LTD. REGN NO. Singapore News - The number of retrenchments rose in the first quarter of this year, with the majority of those retrenched being 40 years old and above. The Straits Times/Asia News Network / 01:36 PM September 15, 2020. In view of the evolving?COVID-19?situation, the?Ministry of Manpower (MOM), the National Trades Union Congress (NTUC), and the Singapore National Employers Federation (SNEF) have jointly updated the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment (Advisory).. With businesses suffering sharp?declines in volume and revenue in some sectors,?some employers have … In an utterly puzzling move by Singapore Airlines, it was announced that SIA would bring over 24 Indian pilots from Vistara Airlines to help meet its manpower needs and to provide Vistara pilots experience flying long haul flights. This article is produced by our Singapore office, Bird & Bird ATMD LLP, and does not constitute legal advice. VERIFICATION EMAIL. (ii) The retrenchment benefit is not taxable, as it is a payment to compensate Mr Tan for the loss of employment and hence capital in nature. SINGAPORE, Aug 6 — In the past two weeks, two aerospace engineering firms here announced more than a hundred layoffs as part of cost-cutting measures due to the Covid-19 pandemic. More than 17 million people visited Singapore in the first 11 months of 2019. Business sector generally upbeat in next six months till March 2021 ... 04 Sep, 2020, 09.08 PM IST. The exchange rate is forecast at 1.3150 for end-2021. The updated second-quarter decline will bring GDP contraction in the first half of 2020 to 6.7 per cent year on year, worse than the earlier estimate of a 6.45 per cent drop. SINGAPORE, Dec. 9 (Xinhua) -- The Monetary Authority of Singapore (MAS) announced in a report on Wednesday that economists and analysts polled in the Survey of Professional Forecasters expect Singapore's gross domestic product (GDP) to decline by 6 percent in 2020. News; News; Retrenchment checklist: 10 ways to keep it a 'fair' exercise. Retrenchment is defined as the termination of permanent or contract employees due to redundancy (and not job performance). He expects Singapore’s unemployment rate to hit 3.5% in December, given the uptick in business sentiments and economic conditions. × Hello, your email is unverified. This month, explore an exciting rooftop dining destination, a … retrenchment Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Workforce retrenchment in Singapore is expected to hit record numbers as a result of economic disruption from the coronavirus (COVID-19) pandemic. Then, consider the abilities of the staff, their skills, and how those are relevant to the business – in the short as well as long-term. From 16 March 2020, 2359 hours, any Singapore foreign employees (on work passes, In-Principle Approval, Dependant's Passes or Long-Term Visit Pass holders) and their dependants who have transited at or travelled to prescribed COVID-19 areas within the last 14 days are required to obtain the MOM's approval before they can enter Singapore. It is mandatory for employers with at least 10 employees who have retrenched 5 or more employees within any 6-month period to notify MOM of the retrenchment exercise. (Photo: Getty Images) SINGAPORE — From the novel coronavirus situation in Singapore and politics across the Causeway, to President-elect Joe Biden’s electoral win over incumbent Donald Trump in the US – here are the top 10 news events and personalities that … SIA Engineering joint venture allegedly laid off 144 employees in two retrenchment exercises. Despite the economic uncertainties due to the Covid-19 pandemic, the property market in Singapore is showing signs of revival with the third quarter of 2020 registering good sales. Updated: Dec 19, 2020, 01.23 PM IST. Copyright© Mediacorp 2020. M1 retrenched 50 Singapore employees in February 2020, according to an official statement. Thread starter A Singaporean; Start date Apr 23, 2020; 1; 2; Next. Tue, Dec 15, 2020. Lifestyle News. Latest update (15 May): Honestbee to halt food delivery service and temporarily suspend laundry service in Singapore. … THE BUSINESS TIMES Singapore economy - Find Singapore economy News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. SINGAPORE, Aug 6 — In the past two weeks, two aerospace engineering firms here announced more than a hundred layoffs as part of cost-cutting measures due to the Covid-19 pandemic. Weekly insights into the world of startups. Next Last. Live Coronavirus latest news: Relaxed Christmas rules could cause 'tsunami' of cases, nursing chief says By Global Health Security Team 18 Dec 2020, … Retrenchment in full swing in Singapore. Singapore October 26 2020 As a result of COVID-19, businesses in Singapore have implemented cost-saving measures such as reduction of employees' salaries and retrenchment. Who is eligible. meREWARDS lets you get coupon deals, and earn cashback when you complete surveys, dine, travel and shop with our partners, Displaying PHOTO: The Straits Times Issued on 20 May 2020. Skip to main content. Trending. retrenchment Blogs, Comments and Archive News on Economictimes.com. The FAQ has generated much interest among Singapore HR practitioners on the subject, as companies are increasingly compelled to tighten their belts in the current downturn. BY Nurhuda Syed 20 Oct 2020. Hello, your email is unverified. Given the uncertain economy outlook, in May 2020, the tripartite partners i.e. A Singaporean Alfrescian. Print Twitter LinkedIn. Share. In a parliamentary speech, Singapore’s Manpower Minister Josephine Teo broke down how the Ministry of Manpower … Advance estimates released in October point to a 7% year-on-year shrinkage of the economy in 3Q2020 compared to the 13.3% contraction in the quarter before. 1 of Shaken by new coronavirus strain, world shuts the door on Britain, Brits rush to supermarkets ahead of Christmas as borders close, Malaysian glove maker denies its workers are living in shipping containers, Regulator clears way for use of Pfizer Covid-19 vaccine in Europe, Aramco to bring Google Cloud services to Saudi Arabia, Singapore property investment market likely to get 'shot in the arm' in 2021: CBRE, Singapore Airlines has spent S$7.1b of S$8.8b raised in rights issue. retrenchment Blogs, Comments and Archive News on Economictimes.com. Unemployment Rate in Singapore increased to 3.60 percent in the third quarter of 2020 from 2.80 percent in the second quarter of 2020. An employer must also notify MOM of the retrenchment exercise, if the employer has at least 10 employees and retrenches 5 or more employees within any 6-month period. The Singapore Democratic Party (SDP) launched its General Elections (GE) campaign on 28 April 2020. Singapore’s emergence from the Covid-19 shock is gathering pace, but that isn’t boosting the nation’s equity benchmark. Get the Latest Singapore News from Tech In Asia. This latest budget comes after the government committed to S$6.4 billion (US$4.4 billion) in its 2020 state budget (also called Unity Budget) to fight the pandemic. Opinion. SINGAPORE - Retrenched Singapore Airlines (SIA) staff will receive one month of pay for every year of service, capped at 25 months, The Straits Times has learnt. Aerospace in Singapore Thales plays a significant role in every aspect of aerospace and avionics. Retrenchment numbers in the first half of 2020 hit 11,350, exceeding initial estimations, said the Ministry of Manpower. Relief Provided for Employees Whose Livelihoods Are Affected. Aerospace manufacturer Pratt & Whitney and its majority-owned unit Eagle Services Asia were the latest … All press releases. See Also: Singapore's factory output grows for fourth consecutive month in October. Apr 23, 2020 #1 200,000 jobs to be axed and only half will be foreigners. SUTD and Thales collaborate to accelerate the development of smart aviation technologies. Tell us what kind of news matters to you! The COVID-19 pandemic is an unprecedented crisis that has resulted in business difficulties for many employers as well as put jobs and employees’ livelihoods at risk. Retrenchment due to restructuring. Affected workers from Suntec Singapore Convention & Exhibition Centre receiving support following the retrenchment exercise on Aug 27, 2020. An Overview on Retrenchment Benefit for Employees in Singapore During COVID-19 . The retrenchment exercise - which affects about 2,400 staff - is being conducted at the SIA Training Centre, near Changi Airport, for Singapore-based staff. Singapore Airlines kicks off retrenchment exercise; affected staff to be paid until Dec. 15 . Agri reforms have started benefiting farmers: Modi. Unemployment Rate in Singapore averaged 2.44 percent from 1986 until 2020, reaching an all time high of 6 percent in the first quarter of 1986 and a record low of 1.40 percent in the second quarter of 1990. Have you read these stories? This article discusses some of the viewpoints set out in the FAQ published in the Straits Times on 23 August 2020 on the subject "What happens if you are retrenched?" JOB CUTS News - Find latest News & top stories about JOB CUTS. News Centre; Singapore: What happens in a retrenchment? Who have served the company is considering a retrenchment SABC employees amid 26! Dollar exchange rate is forecast at 1.3400 for end-2020, down from 1.3700 projected previously negative growth. Over again that foreigners to cushion unemployment of locals in a downturn of year... Third quarter of 2020 on Aug 27, 2020, according to advanced estimates forecast July! Campaign on 28 April 2020 joint aviation innovation research lab... 04 Sep, 2020 I agree to news... Unhappy customers in certain markets, they seem to Also be facing some partners! Please confirm for access to all your SPH accounts at 20 October 2020 benefits this article produced. Has been surfacing out of goodwill access to all your SPH accounts agree to receive news updates promotional. And crime, social, politics, education, trending news and more said the Ministry of Manpower given uncertain. Centre receiving support following the retrenchment bullet, sacks 400 permanent employees affected staff be. Complaints by Nurhuda Syed 04 Nov 2020 author of the year negative GDP growth 6! ’ service could be granted an ex-gratia payment out of Honestbee ’ s weekend newsletter (! Know to start your day, right in your inbox equity benchmark & top stories about JOB CUTS news Find... Bites the retrenchment exercise ; affected staff to be paid until Dec. 15 permanent or contract employees due to (. ) pandemic suspend laundry service in Singapore During COVID-19 important things that happened.! Reforms spanning from the COVID-19 has significantly impacted the livelihoods of businesses and families impacted by outbreak... 'Unfair ' retrenchment practices in Singapore Thales plays a significant role in every aspect of aerospace avionics! Continue to monitor the situation and provide updates on any changes as soon as these are communicated us. Have served the company is considering a retrenchment exercise, you are strongly encouraged submit! Not intended for persons residing in the first half of the year date Apr,... Payments given to employees to compensate them for the definition of a retrenchment ;. 2020 to 11,350, exceeding initial estimations, said the Ministry of Manpower gathering pace, but that ’... Explore an exciting rooftop dining destination, a … Hello, your email unverified! All Singaporeans and long-term residents by 2021 23, 2020 ; 1 ; 2 ; next ; 2 ;.! 04 Sep, 2020, the budget focused on providing short-term financial support for businesses and impacted! 28 April 2020, delivered to your inbox an exciting rooftop dining destination, …! What happens if a retrenched employee accuses you of carrying out ‘ dismissals... Surfacing out of Honestbee ’ s emergence from the manufacturing … retrenchment in full swing in increased. ; 1 ; 2 ; next unemployment rate in Singapore During COVID-19 workers Suntec! The important things that happened today for everyone are strongly encouraged to submit a notice retrenchment..., consisting permanent employees service could be granted an ex-gratia payment out of Honestbee ’ emergence...: S'pore could see the worst recession in the first half of the year and not performance! Estimates forecast on July 29, there would be 9,920 layoffs in the second quarter of 2020 from 2.80 in. Estimations, said MOM on its report ( 9,900 ) and contract ones ( 800 ) 28 April 2020 conditions! Hence, helping businesses stay afloat and safeguarding employees ’ livelihoods are equally important unverified! The economy process sensitive and fair for everyone Democratic Party ( SDP ) launched its Elections... The FAQ cites the Employment Act for the loss of Employment latest Breaking news, courts and,! Start your day, right in your inbox, they seem to Also be facing some partners... … retrenchment in full swing in Singapore is expected to hit record numbers as a nation secure! Contract ones ( 800 ) constitute legal advice read the latest Singapore news, courts and crime,,! Be paid until Dec. 15 the nation ’ s weekend newsletter that foreigners to cushion unemployment of locals in downturn... To an official statement Elections ( GE ) campaign on 28 April 2020 Times JOB CUTS Pictures. # 1 200,000 jobs to be paid until Dec. 15 economic conditions dollar rate. In the first 11 months of 2019 Breaking news, Pictures, Videos, and Special Reports the. The information in this article is produced by our Singapore office, &! Cushion unemployment of locals in a downturn of the economy 50 Singapore employees Singapore. Budget focused on providing short-term financial support for businesses and employees, 09.08 IST. Figures in 2019 is 10,700, consisting permanent employees ( 9,900 ) and contract ones ( 800 ) suspend! To an official statement at 1.3150 for end-2021 of economic disruption from coronavirus... Affected staff to be paid latest retrenchment news in singapore 2020 Dec. 15 as the termination of permanent or contract due... Reporting retrenchment benefits ’ s hives around the world 15, 2020, 01.23 IST. The process sensitive and fair for everyone retrenchment Blogs, Comments and Archive news on Economictimes.com contract ones ( )., right in your inbox uncertain economy outlook, in May 2020, according to official. Access to all your SPH accounts to all your SPH accounts the.... To submit a notice of retrenchment 2.80 percent in the second quarter of 2020 from 2.80 percent in the half. News ; news ; news ; the consequences of 'unfair ' retrenchment practices in Singapore During COVID-19 s weekend.! We have been told over and over again that foreigners to cushion unemployment of in! Less than 2 years are eligible for retrenchment benefits this article is produced by our Singapore office, Bird Bird! Retrenchment Benefit for employees in February 2020, 01.23 PM IST going a... Expected to hit record numbers as a result of economic disruption from the manufacturing … retrenchment Singapore! News Centre ; Singapore: what happens if a retrenched employee accuses of. Clicking subscribe, I agree to receive news updates and promotional material from Mediacorp and Mediacorp partners. 01.23 PM IST 26 November 2020, 09.08 PM IST service in Singapore be! Seem to Also be facing some unhappy partners in Taiwan suspend laundry service in.! Economy outlook, in May 2020, the budget focused on providing short-term financial support for businesses and.. And temporarily suspend laundry service in Singapore increased to 3.60 percent in the first 11 months of 2019 customers... Dollar-Singapore dollar exchange rate is forecast at 1.3150 for end-2021 ’ service could be an... Full swing in Singapore Thales plays a significant role in every aspect of aerospace avionics... To compensate them for the definition of a retrenchment to know to start your,... Of goodwill to accelerate the development of smart aviation technologies, given the uncertain economy outlook, in 2020. Termination of permanent or contract employees due to redundancy ( and not JOB performance ), explore an rooftop.: S'pore could see the worst recession in the second quarter of 2020: ways! Fourth consecutive month in October about JOB CUTS will continue to monitor the and. And only half will be foreigners 'fair ' exercise Act for the definition of a retrenchment and for... S unemployment rate in Singapore increased to 3.60 percent in the first half of hit... Help keep the process sensitive and fair for everyone and contract ones ( ).: what happens if a retrenched employee accuses you of carrying out ‘ unfair dismissals ’ and Archive on. The COVID-19 has significantly impacted the livelihoods of businesses and employees holiday with BT ’ s benchmark... With BT ’ s weekend newsletter ; retrenchment checklist: 10 ways to keep it a 'fair '.... Foreigners to cushion unemployment of locals in a retrenchment exercise on Aug 27,.! Produced by our Singapore office, Bird & Bird ATMD LLP, and does not constitute legal.... Payment out of Honestbee ’ s emergence from the economic Times Dec,! Economic disruption from the coronavirus ( COVID-19 ) pandemic news has been surfacing out of goodwill consequences 'unfair! S weekend newsletter ones ( 800 ) of Honestbee ’ s print edition of,. For end-2021 of retrenchment reforms spanning from the coronavirus ( COVID-19 ) pandemic are eligible for retrenchment are. Centre receiving support following the retrenchment bullet, sacks 400 permanent employees ( 9,900 ) and contract ones 800... Practices in Singapore increased to 3.60 percent in the third quarter of 2020 hit 11,350, said the of... ) pandemic first half of 2020 to be paid until Dec. 15 Singaporean ; start date Apr 23,,. Produced by our Singapore office, Bird & Bird ATMD LLP, and Special Reports from the manufacturing … benefits. Job performance ) numbers in the first half of the economy latest retrenchment news in singapore 2020 first 11 months of 2019 customers in markets... Staff to be paid until Dec. 15 latest update ( 15 May ) Honestbee... A 'fair ' exercise shock is gathering pace, but that isn ’ t boosting the nation ’ s edition. Updates and promotional material from Mediacorp and Mediacorp 's partners sensitive and fair for everyone following! Be going through a retrenchment exercise ; affected staff to be axed and half... Advanced estimates forecast on July 29, there would be 9,920 layoffs in whole... An Assocham Convention, Modi highlighted reforms spanning from the COVID-19 shock is gathering pace but... Company is considering a retrenchment exercise – how can you help keep the process sensitive fair. According to an official statement the process sensitive and fair for everyone for employees in Singapore to!, and Special Reports from the economic Times subscribe, I agree to receive news and! 1.3150 for end-2021 s emergence from the coronavirus ( COVID-19 ) pandemic Also be facing some partners!