{
  "id": 12429959,
  "title": "1 in 5 retrenched PMET workers in S’pore still jobless after 2 years",
  "url": "https://urgent.news/2026/10/06/1-in-5-retrenched-pmet-workers-in-spore-still-jobless-after-2-years",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-06T08:40:09.000Z",
  "source": {
    "name": "Vulcan Post",
    "slug": "vulcan-post",
    "url": "https://vulcanpost.com/913675/1-in-5-retrenched-pmet-workers-in-singapore-still-jobless-after-2-years/"
  },
  "original_language": "en",
  "account": "Despite a two-year jobless period for one in five retrenched resident professionals, managers, executives and technicians (PMETs) in Singapore, four out of ten of those who return to work face a median 25% pay cut, according to Acting Minister for Manpower Jasmin Lau's recent parliamentary remarks. Retrenchments have surged in Q2 2026, with 4,620 workers let go, the highest figure since Q4 2020, up from 3,830 in Q1. Nearly seven in ten retrenched PMETs re-enter employment within a year, rising to eight in ten within two years, but around two in ten remain unemployed after two years. Among the employed, six in ten earn more, while those with lower-paying jobs see a median wage reduction of 25% from pre-retrenchment levels. Retrenchment impacts vary by age, education, and industry, with older, more qualified workers and those in financial services or wholesale trade facing tougher re-entry prospects. Acting Minister for Manpower Jasmin Lau also addressed the potential role of AI in retrenchments, stating that while it's difficult to isolate AI's impact on job cuts, businesses are primarily restructuring due to broader transformations. Career support and reskilling programmes have aided some workers, with six in ten finding jobs within six months and nine in ten retaining employment 24 months after enrolling in the Career Conversion Programme. However, completing a reskilling programme alone does not guarantee job security for older workers in rapidly changing sectors. The Employment Act's review is underway, with MOM and its tripartite partners considering stronger obligations for employers, although balancing worker protections with business flexibility remains a concern.",
  "summary": "4 in 10 who return take a median 25% pay cut One in five retrenched resident professionals, managers, executives and technicians (PMETs) remain jobless two years after losing their jobs, while four in 10 of those who return to work earn less than before, with a median pay cut of 25%. Acting Minister for Manpower […]",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}