27 Apr '11, 4am

Record Low Of 9,800 Workers Laid Off In 2010: 66% of Singapore residents re-hired within 12 months of retrenchment.

Last year saw 9,800 workers laid off and with more clinching new jobs within a shorter time. This figure – an all-time low since 1998 – was much lower than the 23,430 workers laid off during the recession in 2009, based on the Redundancy and Re-employment 2010 data by the Ministry of Manpower (MOM) yesterday. For every 1,000 workers last year, 5.7 workers were made redundant – less than the 14 per 1,000 workers laid off in 2009. In 2010, the bulk of workers laid off were Singapore residents (58%), who also formed 69% of the workforce. Manufacturing workers were the most vulnerable to redundancy (12 workers per 1,000 workers), followed by construction (5.4 per 1,000) and services (3.5 per 1,000). Companies said that the decision to lay off workers in 2010 were mainly to:

Full article: http://www.business.gov.sg/EN/News/20110427RecordLowLayoffs

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