China developer CFLD cuts staff in Singapore office

Singapore

BARELY two years after setting up its headquarters here in June 2016 and going on a hiring spree earlier this year, the international arm of Chinese developer China Fortune Land Development (CFLD) has retrenched a number of employees in its Singapore office, The Business Times has learnt.

According to several affected employees who spoke to BT on condition of anonymity, CFLD International, the Singapore office of CFLD, first informed them of the retrenchment on Nov 5, and the company plans to ultimately cut 38 out of 90 employees, some of whom had been hired as recently as two months ago. (see amendment note)