The Business Times
business-time-50
SUBSCRIBERS

Amid ongoing tech layoffs, employment bright spots appear at recently funded startups

google-preferred-sourceAdd BT as a preferred source
Benjamin Cher

Benjamin Cher

Published Thu, Feb 29, 2024 · 12:00 PM
    • Hiring now will be more intentional and unlike 2021, when companies were on a mission to grab talent, says Elena Chow, founder of employment consultancy ConnectOne.
    • Hiring now will be more intentional and unlike 2021, when companies were on a mission to grab talent, says Elena Chow, founder of employment consultancy ConnectOne. PHOTO: CHERYL ONG, BT

    THE start of 2024 saw layoffs continue to roil the tech sector, but recruitment experts report some bright spots of hiring emerging in the local startup ecosystem.

    Singapore’s employment statistics for 2023 showed retrenchments more than doubling their 2022 level to hit 14,320.

    E-commerce major Lazada axed at least 100 jobs in January, including layers of leadership roles, and most recently, property portal PropertyGuru said on Tuesday (Feb 27) that it would cut 79 jobs and shut unprofitable units.

    EmploymentTech layoffsSpotlight

    TRENDING NOW

    Longest-serving chief minister Taib Mahmud’s legacy looms large over Sarawak as a family feud over his estate threatens to expose skeleton’s in the eastern state’s political closet.

    On the board but frozen out: The Taib family feud tearing Sarawak construction giant apart

    Thailand’s target is to export seven million tonnes of rice globally in 2026, but the Middle East war has turned the world topsy-turvy with supply disruptions, high oil prices and economic uncertainty.

    Thai and Vietnamese farmers may stop planting rice because of the Iran war. Here’s why

    US President Donald Trump (left) with Chinese President Xi Jinping in Busan in October 2025. The most plausible outcome of US-China rivalry is not a clean transition from one hegemon to another, but a fragmented order.

    US-China rivalry and the Kindleberger Trap: Why inaction – not escalation – is the biggest risk

    PayPal has struggled despite its storied history as a financial-technology company.

    PayPal plans job cuts as its new CEO pursues turnaround strategy

    Latest T-bills Treasury Bills Results & Interest NewsLatest SSB Singapore Savings Bonds NewsLatest COE Certificate of Entitlement News
    Latest Johor-Singapore SEZ NewsLatest BTO Build To Order & Sales of Balance NewsLatest STI Straits Times Index NewsLatest SGX Dividends, Share Price NewsLatest Bonds Market NewsLatest Singapore Stocks To Buy NewsLatest Singapore Economy News
    View More