Implementation Tracker AVMS Directive Italy Privacy and Data Protection In focus Finance & Financial Regulation Consumer Law Marketing 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 Singapore updated the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment in view of the evolving COVID-19 situation. Private Equity 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. Satellite and Space activities Cybersecurity Commercial Luxembourg Covid-19: S'pore could see 150,000 to 200,000 retrenchments, negative GDP growth of 6%. Aircraft Finance Geo-Blocking 1. Wellness Transfer Pricing Mergers & Acquisitions Unmanned Aircraft Systems Practice Area Social 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 Switzerland and Austria 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. Energy Digitalisation Affected workers from Suntec Singapore Convention & Exhibition Centre receiving support following the retrenchment exercise on Aug 27, 2020. Airports They also offered recommendations on managing excess manpower. Reports of Trade Mark Cases for CIPA Journal Capital Markets Retrenchment due to restructuring. Hello, your email is unverified. Mining and Minerals Retrenchment numbers in the first half of 2020 hit 11,350, exceeding initial estimations, said the Ministry of Manpower. Western Europe Sector Devices and Components Competition Toolkit Video Demos China Regulatory and Administrative Broadcasting SINGAPORE: Singapore's overall unemployment rate rose in the second quarter to its highest level in more than a decade, as retrenchments more ⦠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. International HR Services Navigating Hong Kong's Competition Law Tell us what kind of news matters to you! OTT Aviation & Aerospace 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. FinTech Australia This article is produced by our Singapore office, Bird & Bird ATMD LLP, and does not constitute legal advice. Music Data Centres This is in view of the support measures provided by the government including training grants and wage support such as the Jobs Support Scheme. Energy Storage 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 ⦠Hungary EU Trade Defence Belgium Please confirm for access to all your SPH accounts. Transform. France 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. Follow the latest news and comprehensive coverage on RETRENCHMENT at CNA Russia and the CIS The Internet of Things 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). Corporate Tax Airlines GDPR In Focus Transact. General Data Protection Regulation As set out in the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment(referred to as the âAdvisoryâ in this article), the selection of employees for retrenchment should be based on objective criteria and conducted in a fair manner. Coronavirus (COVID-19) Dispute Resolution Poland Food & Beverage Regulatory Please note that the information in this article is accurate as at 20 May 2020. Finland Energy Network and Transmission ASEAN For unionised employers who are experiencing severe financial difficulties, they are encouraged to negotiate with their unions for a mutually accepted retrenchment package. Malaysia "Is it really a retrenchment?" Meanwhile, Singaporeâs seasonally-adjusted unemployment rate edged up to 3.6% in September, deteriorating from the 3.4% registered in August. Tech Transactions Netherlands The author of the FAQ cites the Employment Act for the definition of a retrenchment. RESEND Transactional IP Glossary of terms used in relation to Brexit EU & UK Representative Services Cloud, Software & Services Publishing Separately, MOM has also issued an Advisory on retrenchment benefits payable to retrenched employees as a result of business difficulties due to COVID-19 on 20 May 2020. We will continue to monitor the situation and provide updates on any changes as soon as these are communicated to us. Nordic Region © 2020 SINGAPORE PRESS HOLDINGS LTD. REGN NO. Israel International Arbitration Tax Disputes Lifestyle. Australia's Notifiable Data Breach Scheme This involves taking into account the following non-exhaustive factors when conducting a retrenchment exer⦠Tessellate It is intended to provide general information only. Trade Secrets The EU Trade Mark Reform - The biggest change to trade mark law for 20 years 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. Africa Singapore October 21 2020 Given the uncertain economy outlook, in May 2020, the tripartite partners i.e. 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. The number of jobs available in Singapore has shrunk by 121,800 in the second quarter of 2020, more than 4x worse than the first quarter where total employment only shrunk by 25,600. Trade Secrets Employee Incentives and Benefits Payment Services Singapore: Ministry of Manpower updates advisory on responsible retrenchment. 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. Venture Capital Cloud Computing Latin America This translates to 112,500 unemployed residents in September, of which 97,700 were among citizens. ... M1 retrenched 50 Singapore employees in February 2020, according to an official statement. This is in line with the Ministry of Manpowerâs recent retrenchment advisory. Middle East The Tripartite Partners have yet again updated the Advisory on 17 October 2020 (âUpdated Advisoryâ) to emphasise key desired outcomes in any retrenchment exercise, in light of retrenchments being inevitable for some employers despite available government grants and support. Esports Communications Outsourcing Product compliance and liability Restructuring and Insolvency Compared to SARS, where there were only 5,510 retrenchments, Covid-19 has proven itself deadlier to Singaporeâs economy. Financial Services Procurement Challenges United States 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. Digital Rights & Assets Nuclear Commercial Aerospace Infrastructure North America Central and Eastern Europe International Education Food & Beverage VERIFICATION EMAIL. Blockchain Germany Mrs Teo said that 400 firms are on the Fair Consideration Framework (FCF) watchlist for reasons related to foreign hiring practices. Czech Republic Copyright Directive The Unitary Patent and the Unified Patent Court PHOTO: The Straits Times Rail South Korea Life Sciences Healthcare Gambling Energy Management the Ministry of Manpower ("MOM"), the Singapore ⦠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. Slovak Republic 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. Guide to IP rights in the UK HDT Singapore Shuts Electric-Taxi Business Due To Covid-19 Impact. 5G Construction and engineering Sweden Luxury, Fashion & Retail Data Protection Officer Services Follow the latest news on retrenchment at TODAYonline. Employment Forensic Services Indirect Tax, Trade and Customs Energy & Utilities Copyright & related rights Oxygy 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⦠Intellectual Property Games Unmanned Aerial Systems, Location Here are tips to help you better interact with the statistics The EU Whistleblowing Directive Startup; Digital News . Business Immigration Competition & EU Law Competition & Regulatory Investigations Influencer Marketing Export Controls, Sanctions and Embargoes Technology & Communications Retail and Consumer SIA had announced that it would slash about 20 per cent of its headcount - about 4,300 positions - amid the COVID-19 ⦠Franchising SINGAPORE â According to the Ministry of Manpowerâs (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. Chart: Retrenchment - Draw your own insights into Singaporeâs labour market by exploring official data through interactive charts. Asia-Pacific Trade Regulatory Corporate Commercial Disputes Hotels, Hospitality & Leisure Workforce retrenchment in Singapore is expected to hit record numbers as a result of economic disruption from the coronavirus (COVID-19) pandemic. KEPPEL Corporation launched a new two-year programme under its partnership with the China Foundation for Poverty... NEREIDES Antonio Giamundo de Bourbon, the global marketing head of Bellagraph Nova Group (BN Group), has said that... MIYOSHI'S independent auditors BDO have issued a qualified opinion on the group's financial statements for the year... [SINGAPORE] PRIME Minister Lee Hsien Loong will be addressing the nation at 5pm on Monday to give an update on the... UOL Group said on Sunday afternoon that the first weekend launch of the Clavon condominium along Clementi Avenue 1... By signing up, you agree to our Privacy Policy and Terms and Conditions. Businesses also need to push for higher productivity in the face of slower manpower growth and keen external competition. The retrenchment exercise - which affects about 2,400 staff - is being conducted at the SIA Training Centre, near Changi Airport, for Singapore-based staff. 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