SINGAPORE: There was a rise within the variety of layoffs within the tech sector, with 1,270 native employees laid off from July to mid-November, Labor Minister Tan See Leng informed parliament on Monday November 28.
Of those, about eight in 10 have been in non-tech roles similar to gross sales, advertising and company features.
About seven in 10 individuals have been aged 35 and beneath, Dr Tan stated, including that that is “constant” with the low median age of residents employed within the data and communications (IofC) sector.
The Minister was responding to questions from a number of MPs about how a sequence of tech layoffs around the globe have affected Singapore employees and what employment assist is on the market to them.
Twitter, Fb meta dad or mum and Shopee are among the many tech corporations which have laid off employees in Singapore this yr.
Noting that the expertise sector typically refers back to the I&C sector, Dr Tan stated the sector employed 136,100 residents in June.
He added that the determine had risen steadily over the previous 5 years, with a median of 8,100 resident employees per yr as of June 2017.
“By comparability, the variety of layoffs over the previous 5 years has been comparatively low, averaging 790 resident employees per yr,” Dr Tan stated.
“Primarily based on obtainable labor market knowledge, 260 residents have been laid off within the first half of this yr, in comparison with the rise of seven,000 residents employed within the sector.”
Dr Tan stated current layoff notices acquired by the Ministry of Manpower (MOM) indicated an “improve” within the layoff of native or resident employees within the expertise sector.
Employers whose companies are registered in Singapore and have no less than 10 workers are legally required to inform MOM of any dismissals inside 5 working days of notifying affected workers.