Singapore firms more selective in hiring as Iran war adds to cost pressures

[SINGAPORE] Early signs of more restrained hiring are emerging among firms in Singapore as cost pressures mount amid the ongoing Iran war, although the shift has yet to show up in official labour market data.

Recruiters and hiring platforms told The Business Times that while hiring activity remains broadly steady for now, some companies are beginning to take a more measured approach.

Kirsty Poltock, country manager of Robert Walters Singapore, said though hiring has not stopped, “geopolitical developments are contributing to a degree of hesitation, prompting businesses to prioritise efficiency and cost discipline”.