National Wages Council to reconvene this year amid Covid-19's rising toll on Singapore jobs.
About 3,600 employers notified the Ministry of Manpower of cost-cutting measures that had affected workers' salaries since April, protecting some 150,000 jobs that might otherwise have been lost and seen workers displaced, said Mrs Teo.
She noted that the majority of employers have been responsible and fair in implementing cost-saving measures and preventing job losses. In many of the cases where her ministry had to intervene, the employers were prepared to review their initial plans to lighten the burden on employees. The minister's comments come after preliminary labour market data for the second quarter of the year, released on July 29, showed that unemployment and retrenchments have risen from the first quarter.
Retrenchments more than doubled in the second quarter, with 6,700 workers laid off, up from 3,220 in the first quarter. This was higher than the peak of 5,510 during the 2003 Sars outbreak, but below the 2009 global financial crisis high of 12,760., which includes protecting the Singaporean core of the workforce and retaining foreigners with special or critical skills.
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