08 Dec '11, 3am

Singapore employers prefer not to lay off workers and would rather keep them, according to survey

Singapore employers prefer not to lay off workers and would rather keep them, according to survey

Singapore companies are more inclined to keep their workers in a downturn than retrench them as many did in the 2008-09 recession, according to a survey of employers. -- ST PHOTO: JOYCE FANG By Kor Kian Beng Singapore companies are more inclined to keep their workers in a downturn than retrench them as many did in the 2008-09 recession, according to a survey of employers. Fewer than four per cent of 272 companies polled in October would consider cutting their headcount while only one per cent would lay off their workers. In the last slump, 2,453 companies either laid off workers or ended their contracts prematurely. Over the same two-year period, 34,080 workers were laid off. The current reluctance by companies to let workers go stems from their experience in the last recession, said Mr Koh Juan Kiat, executive director of the Singapore National Employers Federation (SNEF)...

Full article: http://www.straitstimes.com/BreakingNews/Singapore/Story/...

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