ASEAN KEY DESTINATIONS
More workers laid off in 2014 amid restructuring
SINGAPORE: More people were laid off in Singapore last year, due to a rise in redundancies among non-residents, according to data released by the Ministry of Manpower (MOM) on Thursday (Apr 23).
In 2014, 12,930 workers were laid off, up from 11,560 in 2013. In other words, 6.3 workers were made redundant for every 1,000 employees, the report said.
However, fewer residents were made redundant last year – 7,240 were laid off last year, as compared to 7,520 in 2013. The top reasons cited by firms for the redundancies were restructuring and re-organisation.
The increase in redundancies was mainly from the services sector, said MOM. Layoffs in the construction sector also went up, amid a decline in private sector construction output.
Professionals, managers, executives and technicians (PMETs) formed 51 per cent of the layoffs last year, as compared to 56 per cent in 2013. The likelihood of redundancy among PMETs remained higher than clerical, sales and service workers, and production and related workers.
WORKERS FIND NEW JOBS MORE QUICKLY
Residents who were made redundant found replacement jobs more quickly last year, according to the report. The rate of re-entry into employment within six months of being laid off rose for the third consecutive quarter to 59 per cent in Dec 2014, said MOM.
Additionally, 68 per cent of residents who were laid off in the first three quarters of 2014 found jobs by December in the same year. This is compared to 66 per cent of the previous cohort.
About half of those who were laid off found new jobs within a month, and 68 per cent found work in a different industry, the data revealed.
Letters that do not contain full contact information cannot be published.
Letters become the property of AseanAffairs and may be republished in any format.
They typically run 150 words or less and may be edited
submit your comment in the box below