Retrenchments up in first quarter, led by manufacturing: MOM

Singapore

RETRENCHMENTS in Singapore rose in the first quarter of the year, driven by manufacturing losses and hitting mainly production and related workers from electronics, said the Manpower Ministry (MOM) on Thursday.

The number of retrenched employees stood at 3,230, up from 2,510 in the previous quarter and also higher than a year ago, the ministry said in its latest labour market report.

Retrenchments in electronics made up 18 per cent of the number, followed by services industries such as wholesale trade, as well as transportation and storage.

"While restructuring and reorganisation remained the main reason cited by establishments for retrenchme…