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80% of businesses see revenues hit, but most are retaining workers: SCCCI survey

Nearly 78% of respondents keeping or raising headcount from year before; only about 8% reported layoffs

Singapore

SOME 80 per cent of businesses here are experiencing declines in revenue, according to an annual survey by the Singapore Chinese Chamber of Commerce & Industry (SCCCI) released on Friday. This is more than double the proportion of businesses (38.7 per cent) that reported revenue declines in 2019.

Despite the upheaval, employers are retaining their workers. Nearly 78 per cent of respondents are maintaining or increasing their headcount from the year before. Only about 8 per cent of respondents...

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