Retrenchments likely to go up this year: Lim Swee Say

Singapore

THE number of layoffs this year is likely to be higher than last year's, but there is no sign that "disguised retrenchments" are on the rise, Manpower Minister Lim Swee Say told Parliament on Monday.

Replying to questions raised by Members of Parliament Seah Kian Peng and Tan Wu Meng, Mr Lim noted that preliminary figures show 11,890 workers were axed in the first nine months of this year, against 8,590 in the same period last year.