Retrenchments rise in Singapore as manufacturing sector takes a beating: manpower ministry report – ig.com
Retrenchments rose in the first quarter of this year compared to the previous quarter, due to business restructuring and reorganization, said Singapores Ministry of Manpower (MOM) on Thursday. Among the sectors, retrenchments were driven by the manufacturing industry, the ministry said.
A total of 3,230 workers were laid off in the first three months of this year, compared to 2,510 workers in the last quarter of 2018 and 2,320 workers the same period a year ago.
The manufacturing sector saw 1,040 workers let go for the first quarter, an increase from 380 workers in the previous quarter, primarily affecting production workers and those related to factory work in the electronics segment.
The electronics sector chalked up almost one-fifth…