Opinion. The Singapore government is on track to secure COVID-19 vaccines for all Singaporeans and long-term residents by 2021. ... 2020, 1:26 pm . The updated second-quarter decline will bring GDP contraction in the first half of 2020 to 6.7 per cent year on year, worse than the earlier estimate of a 6.45 per cent drop. Advance estimates released in October point to a 7% year-on-year shrinkage of the economy in 3Q2020 compared to the 13.3% contraction in the quarter before. CAAS and Thales establish joint aviation innovation research lab . M1 retrenched 50 Singapore employees in February 2020, according to an official statement. Covid-19: S'pore could see 150,000 to 200,000 retrenchments, negative GDP growth of 6%. … This month, explore an exciting rooftop dining destination, a … Workforce retrenchment in Singapore is expected to hit record numbers as a result of economic disruption from the coronavirus (COVID-19) pandemic. Affected workers from Suntec Singapore Convention & Exhibition Centre receiving support following the retrenchment exercise on Aug 27, 2020. Statistical definitions, concepts and sources on: Retrenchment Last updated on 06 November 2020 10:13:58 Best viewed using IE 11, Firefox 12 or Google Chrome … Notify MOM of retrenchment. See news report below. Drama. September 15, 2020. 2020 could see the worst recession in the whole of Singapore's existence as a nation. (Photo: Getty Images) SINGAPORE — From the novel coronavirus situation in Singapore and politics across the Causeway, to President-elect Joe Biden’s electoral win over incumbent Donald Trump in the US – here are the top 10 news events and personalities that … Commentary. Unemployment Rate in Singapore averaged 2.44 percent from 1986 until 2020, reaching an all time high of 6 percent in the first quarter of 1986 and a record low of 1.40 percent in the second quarter of 1990. [DOVER] A slew of countries closed their borders to Britain on Monday over fears of a highly infectious new... [LONDON] Britons rushed to supermarkets on Monday to stock up for Christmas after stricter pandemic rules meant last... [KUALA LUMPUR] A Malaysian glove maker has denied hundreds of its workers are living in metal shipping containers in... [AMSTERDAM] Europe's medicines regulator on Monday approved the use of the Covid-19 vaccine jointly developed by US... [DUBAI] Saudi Aramco Development, a subsidiary of Aramco, has teamed up with Google Cloud to offer cloud services to... By signing up, you agree to our Privacy Policy and Terms and Conditions. Preliminary retrenchment figures in 2019 is 10,700, consisting permanent employees (9,900) and contract ones (800). 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. JCB India bites the retrenchment bullet, sacks 400 permanent employees. Then, consider the abilities of the staff, their skills, and how those are relevant to the business – in the short as well as long-term. Read the latest Singapore news, courts and crime, social, politics, education, trending news and more. Read the latest Singapore news, courts and crime, social, politics, education, trending news and more. An M1 spokesperson told Mothership that the retrenchment … Shaken by new coronavirus strain, world shuts the door on Britain, Brits rush to supermarkets ahead of Christmas as borders close, Malaysian glove maker denies its workers are living in shipping containers, Regulator clears way for use of Pfizer Covid-19 vaccine in Europe, Aramco to bring Google Cloud services to Saudi Arabia, Singapore property investment market likely to get 'shot in the arm' in 2021: CBRE, Singapore Airlines has spent S$7.1b of S$8.8b raised in rights issue. Those with less than 2 years’ service could be granted an ex-gratia payment out of goodwill. This latest budget comes after the government committed to S$6.4 billion (US$4.4 billion) in its 2020 state budget (also called Unity Budget) to fight the pandemic. Have you addressed these areas? 3. In a parliamentary speech, Singapore’s Manpower Minister Josephine Teo broke down how the Ministry of Manpower … Singapore News - The number of retrenchments rose in the first quarter of this year, with the majority of those retrenched being 40 years old and above. Relief Provided for Employees Whose Livelihoods Are Affected. ... 04 Sep, 2020, 09.08 PM IST. The Singapore Democratic Party (SDP) launched its General Elections (GE) campaign on 28 April 2020. Keep up to date with the Singapore Tech News, Stories, and Community Insights from Asia's Tech Ecosystem the Ministry of Manpower ("MOM"), the Singapore National Employers… Times are tough and the company is considering a retrenchment exercise – how can you help keep the process sensitive and fair for everyone? In an utterly puzzling move by Singapore Airlines, it was announced that SIA would bring over 24 Indian pilots from Vistara Airlines to help meet its manpower needs and to provide Vistara pilots experience flying long haul flights. An employer must also notify MOM of the retrenchment exercise, if the employer has at least 10 employees and retrenches 5 or more employees within any 6-month period. The coronavirus pandemic and the extended lockdown has had a clear impact on South African companies, with various government bodies reporting an increase in retrenchment and insolvencies. Summary Table: Retrenchment Retrenchment refers to the termination of permanent employees due to redundancy and early termination of term contract employees due to redundancy. 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. Hello, your email is unverified. 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. Singapore October 26 2020 As a result of COVID-19, businesses in Singapore have implemented cost-saving measures such as reduction of employees' salaries and retrenchment. Wine and dine or plan your next holiday with BT’s weekend newsletter. Trending. 198402668E. BY Nurhuda Syed 20 Oct 2020. Opinion. See Also: Singapore's factory output grows for fourth consecutive month in October. The year 2020 has taught us many things but one message really resonated — the call to be confident, passionate, and committed to being true to one’s self. SINGAPORE — A number of StarHub staff were left in shock, and tears, at the telco’s headquarters in Ubi this week, as they received news that they had been retrenched from their jobs. Retrenchment In Singapore. Read more. 10 out of If you have decided and will be going through a retrenchment exercise, you are strongly encouraged to submit a notice of retrenchment. Print Twitter LinkedIn. More at the end of this article. Next Last. Singapore Airlines kicks off retrenchment exercise; affected staff to be paid until Dec. 15 . Singapore News - The number of retrenchments rose in the first quarter of this year, with the majority of those retrenched being 40 years old and above. This service is not intended for persons residing in the EU. retrenchment Blogs, Comments and Archive News on Economictimes.com. Get the Latest Singapore News from Tech In Asia. THE BUSINESS TIMES Singapore economy - Find Singapore economy News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. MARKETS. ALL NEWS; WEEKLY; BREAKING; TODAY'S PAPER; LIFESTYLE; OPINION; … SINGAPORE - Retrenched Singapore Airlines (SIA) staff will receive one month of pay for every year of service, capped at 25 months, The Straits Times has learnt. PHOTO: The Straits Times This is as labour numbers typically tail behind the economic growth cycle by one to two quarters, he says while referencing the republic’s latest GDP figures. SIA Engineering joint venture allegedly laid off 144 employees in two retrenchment exercises. Retrenchment is defined as the termination of permanent or contract employees due to redundancy (and not job performance). Have you read these stories? (i) The one-month salary in-lieu of notice received by Mr Tan on 30 Dec 2019 is taxable in the YA 2020, alongside his salary and bonuses received in the year 2019. Live Coronavirus latest news: Relaxed Christmas rules could cause 'tsunami' of cases, nursing chief says By Global Health Security Team 18 Dec 2020, … One of Southeast Asia's most modern and dynamic cities, Singapore is also one of the most visited cities in the world. Despite the economic uncertainties due to the Covid-19 pandemic, the property market in Singapore is showing signs of revival with the third quarter of 2020 registering good sales. Speaking at an Assocham convention, Modi highlighted reforms spanning from the manufacturing … South African Broadcasting Corporation (SABC) employees at the public broadcaster’s headquarters in Auckland Park, Johannesburg, say they are stressed due to uncertainties about their future amid the retrenchment … ... M1 retrenched 50 Singapore employees in February 2020, according to an official statement. retrenchment Latest Breaking News, Pictures, Videos, and Special Reports from The Economic Times. Get more information about JOB CUTS at straitstimes.com. Copyright© Mediacorp 2020. Follow the latest news and comprehensive coverage on RETRENCHMENT at CNA. This article discusses some of the viewpoints set out in the FAQ published in the Straits Times on 23 August 2020 on the subject "What happens if you are retrenched?" Given the uncertain economy outlook, in May 2020, the tripartite partners i.e. All you need to know to start your day, right in your inbox. Introduced in February 2020, the budget focused on providing short-term financial support for businesses and families impacted by the outbreak. Featured news releases. Aerospace manufacturer Pratt & Whitney and its majority-owned unit Eagle Services Asia were the latest … All press releases. Thread starter A Singaporean; Start date Apr 23, 2020; 1; 2; Next. ... Latest News. Retrenchment due to restructuring. Retrenchment numbers in the first half of 2020 hit 11,350, exceeding initial estimations, said the Ministry of Manpower. Mediacorp Pte Ltd. All rights reserved. Tue, Dec 15, 2020. meREWARDS lets you get coupon deals, and earn cashback when you complete surveys, dine, travel and shop with our partners, Displaying 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. SINGAPORE, Aug 6 — In the past two weeks, two aerospace engineering firms here announced more than a hundred layoffs as part of cost-cutting measures due to the Covid-19 pandemic. It is intended to provide general information only. Agri reforms have started benefiting farmers: Modi. In view of the evolving?COVID-19?situation, the?Ministry of Manpower (MOM), the National Trades Union Congress (NTUC), and the Singapore National Employers Federation (SNEF) have jointly updated the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment (Advisory).. With businesses suffering sharp?declines in volume and revenue in some sectors,?some employers have … For further queries, please contact: Ministry of Manpower Online enquiry www.mom.gov.sg Singapore National Employers Federation (SNEF) Industrial and Workplace Relations It is mandatory for employers with at least 10 employees who have retrenched 5 or more employees within any 6-month period to notify MOM of the retrenchment exercise. News; News; The consequences of 'unfair' retrenchment practices in Singapore. THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. 1 of 2 Go to page. Please confirm for access to all your SPH accounts. Read more. 25-Feb-2020. 1 of Unemployment Rate in Singapore increased to 3.60 percent in the third quarter of 2020 from 2.80 percent in the second quarter of 2020. The retrenchment exercise - which affects about 2,400 staff - is being conducted at the SIA Training Centre, near Changi Airport, for Singapore-based staff. Not JOB performance ) Singapore office, Bird & Bird ATMD LLP, and does constitute. The Ministry of Manpower ( SDP ) launched its General Elections ( GE ) campaign on 28 April 2020 will! The EU stay afloat and safeguarding employees ’ livelihoods are equally important from Suntec Singapore Convention Exhibition. Estimations, said MOM on its report 10,700, consisting permanent employees they seem to Also be some!, Pictures, Videos, and Special Reports from the economic Times exercise on Aug 27 2020! 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