Retrenchment up in manufacturing sector

Singapore - Some 2,000 workers were retrenched in the third quarter of the year, of which 1,500 were from the manufacturing sector, the Singapore government said.

The Ministry of Manpower (MOM) said preliminary estimates showed that 2,000 workers were retrenched in the third quarter of the year, up from 1,798 in the previous quarter and 1,827 a year earlier.

Most of the retrenched workers came from the manufacturing sector, which laid off 1,500 workers, primarily from the electronics industry. Another 500 were from the services industries.

MOM says employees in the manufacturing sector are feeling the pressure of the global downturn, as weaker external demand hurt employment.

Companies in the manufacturing sector are also less upbeat about business prospects, with 28% seeing a further slowdown in the next six months, said a survey by the Economic Development Board (EDB).