Layoffs sweep parts of Singapore: Twelve industries have already lost over 10,000 jobs in 2026

In 2026, twelve different industries in Singapore have collectively lost over 10,000 jobs, a stark contrast to the positive economic growth the country has experienced. The Ministry of Manpower reported the net change in employment by industry, revealing that the Food & Beverage sector is the hardest hit, with a loss of 3,400 jobs in the first half of the year alone.

This comes after years of struggles due to rising rents, inflation, and limited customer willingness to pay for higher costs. The sector, however, remains relatively stable compared to recent years.

Another industry experiencing significant job losses is IT & Other Information Services, with 1,700 positions cut this year. Despite the sector's strong presence and numerous job vacancies, the number of employed individuals in Singapore has been declining. This decline is attributed to the AI revolution, as companies shift their focus towards deploying AI solutions, resulting in headcount reductions.

Legal, Accounting & Management Services and Insurance Services have also experienced job cuts, with 400 and 200 positions lost, respectively. Professional Services, which includes roles in architecture and engineering, has seen a 700-job decrease. While this number may seem small, it represents a significant loss for a company.

The data indicates that not all sectors are prospering during this period. The overall employment figures in Singapore show a decline of 10,300 jobs in the first half of 2026. This news comes as a reminder that the AI-driven economic boom in Singapore is not evenly distributed across all industries, leaving certain sectors vulnerable to job losses.