Following recent job cuts by Swedish fashion retailer H&M, concerns of businesses withdrawing from Singapore have surfaced online. Concerns include offshoring tech and engineering functions to Vietnam, leading to job losses in other sectors. Additionally, locals' need for high salaries due to Singapore’s cost of living and outsourcing to neighboring countries are causing businesses to consider relocating operations.
Concerns over businesses pulling out of Singapore have surfaced online following job cuts by Swedish fashion retailer H&M. One claimed that many Singapore businesses’ tech and engineering functions are now being offshored to Vietnam, while another working in the shipping sector said the 'bleeding' is not in tech alone.
Another commenter said locals have no choice but to seek high salaries to survive Singapore’s cost of living, and when companies feel the pinch of these costs, they end up offshoring functions or relocating operations to neighbouring countries. Singapore-based employee leading a team of workers across China and Southeast Asia also shared her fears of being laid off online.
Lastly, the final Snowfall event at Snow City, Singapore’s first indoor snow attraction, is bidding farewell on Sept 30 after 26 years of giving Singapore its very own winter experience, offering 4 months of discounted experiences. KF Seetoh hopes PM Wong can protect, preserve, & imagine new possibilities for hawker culture, not just build fancier centre
Singapore Business Migration H&M Job Cuts Tech And Engineering Functions Offshoring Shipping Sector Job Losses Cost Of Living In Singapore Locals Need For High Salaries Staunch Opposition To Business Withdrawal Kidinafushi Sanctions Snowfall Event At Snow City Preservation Of Hawker Culture PM Wong's Support For Hawker Culture