Employers notify MOM of cost-saving moves affecting over 187,000 workers
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
Singapore
IN the three months from March 12, more than 4,800 employers submitted notifications on cost-saving measures amid the Covid-19 pandemic, affecting more than 187,000 employees, the Ministry of Manpower and the Tripartite Alliance for Fair and Progressive Employment Practices (TAFEP) said in a joint statement on Wednesday.
According to MOM's labour market report for the first quarter this year, the number of employed people in Singapore stood at about 3.5 million as at end March, excluding foreign domestic workers. With effect from March 12, employers with 10 or more employees are required to notify MOM if they implement cost-saving measures that affect employees' monthly salaries.
Decoding Asia newsletter: your guide to navigating Asia in a new global order. Sign up here to get Decoding Asia newsletter. Delivered to your inbox. Free.
Copyright SPH Media. All rights reserved.
TRENDING NOW
Shelving S$5 billion office redevelopment plan proved ‘wise’ as geopolitical risks mount: OCBC chairman
OCBC is said to emerge as lead bidder for HSBC Indonesia assets
Middle East-linked energy supply shocks put Asean Power Grid back in focus
Eurokars Group introduces rental car franchises Enterprise Rent-A-Car, National Car Rental, and Alamo to Singapore
