Singapore retrenchments hit highest quarterly level since 2020, with 4,500 workers laid off
Layoffs climbed 17.5% from the previous quarter, although Singapore’s overall employment continued to grow Singapore recorded its highest quarterly retrenchment figures since the pandemic in the second quarter of 2026, even as the country’s labour market continued to add jobs. According to preliminary labour market data released by the Ministry of Manpower (MOM) today (Jul […]
Singapore experienced its highest quarterly retrenchment figures since the COVID-19 pandemic in the second quarter of 2026, with 4,500 workers laid off, a 17.5% increase from the previous quarter. Despite this rise in layoffs, the country's overall employment continued to grow, adding 10,700 jobs in Q2. The majority of retrenchments occurred in outward-oriented sectors like information and communications and manufacturing, driven by business restructuring.
Employment growth remained positive, with foreign workers contributing most to job creation, particularly in construction and manufacturing. Despite the increase in layoffs, Singapore's unemployment rate remained steady at 2%. Companies are still planning to hire, with 43.9% of firms expecting to increase hiring in the next three months. However, businesses are expected to remain cautious in their hiring and wage decisions.
Written by urgent.news from Vulcan Post's reporting — not their text. Machine-written — it may contain errors, so check the original before relying on it.
