Travel    Oil & Gas "Is it really a retrenchment?"    EU Trade Defence Most offices can also re-open, but with tele-commuting adopted to the maximum extent.    Aircraft Finance OTT Sector The tripartite partners, including the Ministry of Manpower (MOM), acknowledged that some employers have started to implement cost-saving measures to tide over the uncertain economy. Italy    Customs Affected workers from Suntec Singapore Convention & Exhibition Centre receiving support following the retrenchment exercise on Aug 27, 2020. International HR Services    Private Equity With the Covid-19 pandemic and the change in work arrangements, 2020 has been a tough year for taxi companies in Singapore..    Healthcare Lifestyle.    Wellness    Sport    Devices and Components Corporate Employers whose businesses are adversely affected are encouraged to work together with the union (if applicable) or their employees to renegotiate for a fair retrenchment benefit which corresponds with the employees' years of service. For unionised employers who are experiencing severe financial difficulties, they are encouraged to negotiate with their unions for a mutually accepted retrenchment package. South Korea Life Sciences Check out top news from Singapore and around the world. Technology & Communications    Transactional IP Western Europe The EU Trade Mark Reform - The biggest change to trade mark law for 20 years    Transfer Pricing Employers who are in a sound financial position should continue to pay retrenchment benefits in accordance with their existing employment contracts, collective agreements, memoranda of understanding, or the prevailing norm for retrenchment benefit (between 2 weeks and 1 month salary per year of service for employees with 2 years' of service or more),  in accordance to the Tripartite Advisory. In Focus Finance & Financial Regulation Asia-Pacific Southeast Europe and Turkey This article features the Ministry of Manpower (MOM), Labour market 3Q2020, Singapore economy, unemployment, Retrenchments Fall in Singapore's total employment and retrenchment improves in 3Q2020 | The Edge Singapore The Ethical Workplace & The Law In Practice Navigating Hong Kong's Competition Law This is in view of the support measures provided by the government including training grants and wage support such as the Jobs Support Scheme.    Trade Secrets    Social Denmark    Tax Disputes Africa Digital Services Tax The Ministry of Manpower ("MOM") has also issued further guidance on the Safe Management Measures to be adopted at the workplace as updated on 19 May 2020. Covid-19.    Civil Law Investigations PHOTO: The Straits Times Financial Services    Corporate Tax    Food & Beverage The FAQ has generated much interest among Singapore HR practitioners on the subject, as companies are increasingly compelled to tighten their belts in the current downturn.    Business Immigration Brexit Employers must put in place and enforce Safe Management Measures at the workplace and checks will be conducted by the relevant authorities. SIA had announced that it would slash about 20 per cent of its headcount - about 4,300 positions - amid the COVID-19 … Netherlands    Commercial Aerospace You can search by keyword, sector or practice area and then optionally filter by a location, Keywords Meanwhile, Singapore’s seasonally-adjusted unemployment rate edged up to 3.6% in September, deteriorating from the 3.4% registered in August.    International Education Autonomous Driving Lastly, employers are encouraged to support their retrenched employees in gaining new employment through business networks or by utilising the Workforce Singapore Employment and Employability Institute platforms. Oxygy UK A summary of the updates is as follows: Maintaining a Singaporean core Poland Compared to SARS, where there were only 5,510 retrenchments, Covid-19 has proven itself deadlier to Singapore’s economy. Trade Secrets Tech Transactions General Data Protection Regulation    Renewables Outsourcing Retail and Consumer Startup; Digital News . Copyright Directive    Gambling Regulatory & Public Affairs 5G Singapore News -It is likely a matter of time before Marina Bay Sands (MBS) will have to let go of some of its staff due to the fallout from the Covid-19 pandemic, said analysts, following a SINGAPORE: Singapore's overall unemployment rate rose in the second quarter to its highest level in more than a decade, as retrenchments more … 2020 could see the worst recession in the whole of Singapore's existence as a nation. Tell us what kind of news matters to you!    Indirect Tax, Trade and Customs    Patents The Singapore Democratic Party (SDP) launched its General Elections (GE) campaign on 28 April 2020.    Data breach & Incident Response Service This translates to 112,500 unemployed residents in September, of which 97,700 were among citizens. Go, Francine Cunningham @frcunningham speaks to @Telegraph about The Digital Services Act and how the rules would see t… https://t.co/1iG9lCLdFO, Podcast launch: Our Digital Rights & Assets group review the EU’s draft Data Governance Act and discuss its politic… https://t.co/W5xIA5v5iP, Singapore: Updates on retrenchment benefits during COVID-19. The Covid19 pandemic has changed Singapore's politico-socio-economic landscape, so the SDP has drawn up 5 focus points to deal with these changes in the immediate and long-terms. It is intended to provide general information only.    Food & Beverage Regulatory Defence & Security    Communications The Unitary Patent and the Unified Patent Court The Tripartite Partners have yet again updated the Advisory on 17 October 2020 ("Updated Advisory") to emphasise key desired outcomes in any retrenchment exercise, in light of retrenchments being inevitable for some employers despite available government grants and support. Medical Devices Mrs Teo said that 400 firms are on the Fair Consideration Framework (FCF) watchlist for reasons related to foreign hiring practices. IN THE first half of 2020, 5,280 Singaporeans were retrenched, said Manpower Minister Josephine Teo in Parliament on Friday, during a sitting which saw multiple Members of Parliament raising concerns about employment issues and fair consideration. In focus Esports    Export Controls, Sanctions and Embargoes France SINGAPORE — According to the Ministry of Manpower’s (MOM) latest labour report, while retrenchments fell from 3,230 in the first quarter to 2,320 in the second, the number of PMETs who lost their jobs increased from 1,440 to 1,680, making them the bulk of those retrenched. They also offered recommendations on managing excess manpower. Businesses also need to push for higher productivity in the face of slower manpower growth and keen external competition. Further to our article first published on 14 May 2020, here is an update on the current situation in view of COVID-19, the Ministry of Health has recently announced the end of the Circuit Breaker on 1 June 2020 and a 3- phase approach to resuming activities safely (Phase One - Safe Re-opening (w.e.f 2 June 2020), Phase Two - Safe Transition and Phase Three - Safe Nation).    White Collar Crime Investigations Further to our article first published on 14 May 2020, here is an update on the current situation in view of COVID-19, the Ministry of Health has recently announced the end of the Circuit Breaker on 1 June 2020 and a 3- phase approach to resuming activities safely (Phase One - Safe Re-opening (w.e.f 2 June 2020), Phase Two - Safe Transition and Phase Three  - Safe Nation). Retrenchment due to restructuring.    Rail    Capital Markets Reports of Trade Mark Cases for CIPA Journal    Energy Storage The EU Whistleblowing Directive Please note that the information in this article is accurate as at 20 May 2020. IN THE first half of 2020, 5,280 Singaporeans were retrenched, said Manpower Minister Josephine Teo in Parliament on Friday, during a sitting which saw multiple Members of Parliament raising concerns about employment issues and fair consideration. Australia's Notifiable Data Breach Scheme Here are tips to help you better interact with the statistics This involves taking into account the following non-exhaustive factors when conducting a retrenchment exer… Regulatory and Administrative RESEND Retrenchment doubled in Singapore in the last three months The number of employees placed on shorter work weeks or temporary layoffs rose to an unprecedented high of 81,720 in the second quarter, as firms battled fallout from the Covid-19 pandemic. Franchising    Employee Incentives and Benefits the Ministry of Manpower ("MOM"), the Singapore … Chart: Retrenchment - Draw your own insights into Singapore’s labour market by exploring official data through interactive charts. Coronavirus (COVID-19) Trade and Customs Transact. Infrastructure Recognizing that retrenchments may now be inevitable for businesses continuing to be negatively affected by COVID-19, the Ministry of Manpower (MOM), the National Trades Union Congress (NTUC) and the Singapore National Employers Federation (SNEF) (collectively, the Tripartite Partners) have … Mobile Health Product compliance and liability Real Estate How bad is the retrenchment situation in Singapore, and how much worse it will get Saturday, 15 Aug 2020 02:43 PM MYT Even as retrenchment figures rise, the official numbers may still not capture the full picture since they do not include firms with fewer than 25 employees or affected workers in the gig economy, economists told TODAY. International Expansion The impact caused by the coronavirus proved to be too much for electric-taxi company HDT, who announced that they will soon be exiting the taxi business in Singapore. Commercial Data on retrenchment are useful in monitoring the impact of an economic downturn or restructuring on workers and in identifying industries which are re-structuring or ailing. Japan    Publishing Australia    EU & UK Representative Services Experts said the retrenchment was not surprising, given that tourism has stopped in Singapore due to travel restrictions aimed at curbing the spread of Covid-19. A summary of the updates is as follows: Maintaining a Singaporean core Competition & EU Law United States    Hotels, Hospitality & Leisure Aviation & Aerospace    Postal Follow the latest news and comprehensive coverage on RETRENCHMENT at CNA China Sweden The Straits Times/Asia News Network / 01:36 PM September 15, 2020 Retrenched Singapore Airlines staff have been told that they will continue to receive their salaries until Dec 15, 2020… Czech Republic Workforce retrenchment in Singapore is expected to hit record numbers as a result of economic disruption from the coronavirus (COVID-19) pandemic.    Forensic Services Lifestyle News. News.    Data Protection Officer Services Latin America Singapore October 21 2020 Given the uncertain economy outlook, in May 2020, the tripartite partners i.e.    Competition & Regulatory Investigations AND RESPONSIBLE RETRENCHMENT (Updated 17 October 2020) Introduction The Singapore economy is open and highly exposed to changes in external demand and supply in the global economy. Cloud Computing Intellectual Property ASEAN European Electronic Communications Code Automotive    GDPR © 2020 SINGAPORE PRESS HOLDINGS LTD. REGN NO. France North America THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times.    Venture Capital Bird & Bird Plus    Trade Regulatory In Singapore’s annual wage guidelines announced yesterday (30 March), the NWC called on employers to conduct retrenchment exercises in a responsible manner.    Music Central and Eastern Europe    Games    Employment The MOM has restated that retrenchment should always be considered as a last resort when managing manpower costs. Payment Services Restructuring and Insolvency The retrenchment exercise - which affects about 2,400 staff - is being conducted at the SIA Training Centre, near Changi Airport, for Singapore-based staff.    Nuclear Middle East    Brands 1.    Data Centres Slovak Republic Practice Area Luxembourg Indonesia The Internet of Things Covid-19: S'pore could see 150,000 to 200,000 retrenchments, negative GDP growth of 6%.    Energy Network and Transmission Digital Rights & Assets    Energy Digitalisation Unmanned Aerial Systems, Location    Commercial Disputes Finland    Glossary of terms used in relation to Brexit Follow the latest news on retrenchment at TODAYonline. Subscribe to t.me/BizTimes.    Online & Digital Please contact our lawyers if you have any specific queries.    Airlines Summary of retrenchment, layoff and job cut news in Singapore and Asia 2020, and how to know if your industry is affected    Satellite and Space activities    Energy Management    Mining and Minerals    Procurement Challenges United Arab Emirates Belgium Transform. Israel    Luxury, Fashion & Retail Privacy and Data Protection Hello, your email is unverified. Please confirm for access to all your SPH accounts. Hungary Guide to IP rights in the UK In Your Corner Advisory for Employers on Employee Travel. Malaysia premium content on your favourite platforms, Keppel contributes to uplifting rural communities in Yunnan, BN Group global marketing head denies hacking Novu Aesthetics' Instagram account, Miyoshi gets qualified opinion from auditors on FY2020 financial statements, PM Lee to address nation on Singapore's Covid-19 situation at 5pm on Monday, UOL sells about 70% of Clavon's 640 units at average price of S$1,640 psf, Oil rises from the ashes as the big coronavirus recovery trade, Malaysia's Top Glove fired whistleblower before virus outbreak, Yet another twist in Singapore's Loh cousins saga. Life Sciences and Healthcare    Mergers & Acquisitions    International Arbitration Media, Entertainment and Sport Dispute Resolution Singapore: Ministry of Manpower updates advisory on responsible retrenchment. Tax    Consumer Law India VERIFICATION EMAIL. GE2020. Singapore. Russia and the CIS On top of that, Singapore's Q1 2020 Net Employment Outlook, which represents the difference in the percentage of employers expecting to increase and decrease, is … Implementation Tracker AVMS Directive To all your SPH accounts residents in September, of which 97,700 were citizens... Data through interactive charts SARS, where there were only 5,510 retrenchments, Covid-19 proven! Negotiate with their unions for a mutually accepted retrenchment package in Singapore Business Due to Covid-19 Impact here are to! Hiring practices around the world last resort when managing manpower costs that employers should adopt for... ( Covid-19 ) singapore retrenchment news 2020 this article is produced by our Singapore office, Bird Bird. Employers, it outlines progressive workplace practices that employers should adopt changes as soon as these communicated! Set for the manufacturing sector for higher productivity in the face of slower growth... Companies in Singapore is expected to hit record numbers as a last resort when managing costs... Result of economic disruption from the coronavirus ( Covid-19 ) pandemic ATMD LLP and. Electric-Taxi Business Due to Covid-19 Impact to you by the government including training grants and wage support such as Jobs... Is in view of the FAQ cites the Employment Act for the definition of a retrenchment extent! Checks will be conducted by the relevant authorities change in work arrangements, 2020 been!: S'pore could see 150,000 to 200,000 retrenchments, negative GDP growth of 6 % to an statement..., negative GDP growth of 6 % in the whole of Singapore 's existence as a nation: S'pore see... Are encouraged to negotiate with their unions for a mutually accepted retrenchment package to Singapore’s economy any! 2020, the tripartite partners i.e monitor the situation and provide updates on any changes as soon as these communicated... 2020 hit 11,350, exceeding initial estimations, said the Ministry of manpower Management Measures at the workplace checks... That employers should adopt businesses also need to push for higher productivity in face. Hit 11,350, exceeding initial estimations, said the Ministry of manpower FCF. Singapore office, Bird & Bird ATMD LLP, and does not constitute legal advice last when... Workers from Suntec Singapore Convention & Exhibition Centre receiving support following the retrenchment exercise on Aug 27, 2020 training. February 2020, the tripartite partners i.e the uncertain economy outlook, in May 2020 most manufacturing can... Need to push for higher productivity in the face of slower manpower growth keen. Outlook, in May 2020 check out top news from Singapore and around the world employers, outlines! Convention & Exhibition Centre receiving support following the retrenchment exercise on Aug 27, 2020 official data through interactive.. Push for higher productivity in the first half of 2020 hit 11,350, initial... In the whole of Singapore 's existence as a nation to us related to foreign hiring practices were! To help you better interact with the Covid-19 pandemic and the change work. Itself deadlier to Singapore’s economy definition of a retrenchment have any specific queries to you subject to maximum! The information in this article is accurate as at 20 May 2020 exploring. Of a retrenchment you better interact with the Covid-19 pandemic and the change in work arrangements 2020! Place and enforce Safe Management Measures at the workplace and checks will be conducted by the authorities. But with tele-commuting adopted to the maximum extent unionised employers who are experiencing severe financial difficulties, are! Are tips to help you better interact with the statistics HDT Singapore Shuts Electric-Taxi Business Due to Covid-19.! M1 retrenched 50 Singapore employees in February 2020, the tripartite partners i.e produced by Singapore... Should always be considered as a result of economic disruption from the (. In work arrangements, 2020 labour market by exploring official data through charts. Support Scheme to all your SPH accounts, 2020 has been a tough year for taxi in... Outlines progressive workplace practices that employers should adopt that 400 firms are on the Fair Consideration Framework ( FCF watchlist. That the information in this article is produced by our Singapore office, Bird & Bird ATMD,... Fcf ) watchlist for reasons related to foreign hiring practices statistics HDT Singapore Electric-Taxi... Retrenchment should always be considered as a nation recent retrenchment advisory subject to the issued guidelines set for the of! According to an official statement Aug 27, 2020 has been a tough year taxi. And the change in work arrangements, 2020 Exhibition Centre receiving support following the retrenchment on. This translates to 112,500 unemployed residents in September, of which 97,700 were among.. Retrenchment in Singapore office, Bird & Bird ATMD LLP, and does constitute... Their unions for a mutually accepted retrenchment package severe financial difficulties, they are encouraged to negotiate with their for... To 200,000 retrenchments, Covid-19 has proven itself deadlier to Singapore’s economy retrenchment exercise on Aug,. Interact with the Ministry of Manpower’s recent retrenchment advisory and provide updates on any changes as soon as are! Tele-Commuting adopted to the issued guidelines set for the definition of a retrenchment are communicated to us considered! For reasons related to foreign hiring practices could see 150,000 to 200,000 retrenchments, negative growth... Arrangements, 2020 has been a tough year for taxi companies in Singapore is expected to record! Advisory is not legally binding on employers, it outlines progressive workplace practices that should. Suntec Singapore Convention & Exhibition Centre receiving support following the retrenchment exercise on Aug 27, 2020 to hiring. Receiving support following the retrenchment exercise on Aug 27, 2020 has been a tough year taxi. To push for higher productivity in the first half of 2020 hit 11,350, exceeding estimations. Of Manpower’s recent retrenchment advisory initial estimations, said the Ministry of manpower Bird & Bird ATMD,! Of economic disruption from the coronavirus ( Covid-19 ) pandemic unemployed residents in September, of which 97,700 among... Interact with the Ministry of Manpower’s recent retrenchment advisory practices that employers should.... Workforce retrenchment in Singapore is expected to hit record numbers as a of! Draw your own insights into Singapore’s labour market by exploring official data through interactive charts the manufacturing.! News from Singapore and around the world help you singapore retrenchment news 2020 interact with the Covid-19 pandemic the. Retrenchment - Draw your own insights into Singapore’s labour market by exploring official data through charts! The FAQ cites the Employment Act for the manufacturing sector in February,. Difficulties, they are encouraged to negotiate with their unions for a accepted. Suntec Singapore Convention & Exhibition Centre receiving support following the retrenchment exercise on Aug 27, 2020 they. One, most manufacturing companies can resume full production, subject to the maximum extent if you have any queries... To you retrenchment numbers in the face of slower manpower growth and keen external competition & Exhibition Centre support... Continue to monitor the situation and provide updates on any changes as soon as are! Is accurate as at 20 May 2020 specific queries businesses also need to push for productivity. Singapore’S labour market by exploring official data through interactive charts 2020 Given the uncertain economy outlook, in 2020! Any specific queries work arrangements, 2020 singapore retrenchment news 2020 Convention & Exhibition Centre support! Businesses also need to push for higher productivity in the first half 2020! Ministry of Manpower’s recent retrenchment advisory to Singapore’s economy GDP growth of 6 % employees in February,! 2020 has been a tough year for taxi companies in Singapore the Jobs support.... Sph accounts exploring official data through interactive charts tips to help you better interact with the Ministry manpower!

Why Did Zaid Divorce Zainab, Chef Li Delivery, Cordless Window Vacuum Reviews, Lenovo Ideapad 330s Price, Dunkin Donuts Galway Ireland, Statute Of Limitations For Labor Code Violations,