Media, Entertainment and Sport Outsourcing Africa Indonesia    Trade Regulatory This is in line with the Ministry of Manpower’s recent retrenchment advisory. Life Sciences ASEAN Geo-Blocking Financial Services    Data Protection Officer Services Southeast Europe and Turkey Singapore: Ministry of Manpower updates advisory on responsible retrenchment. Chart: Retrenchment - Draw your own insights into Singapore’s labour market by exploring official data through interactive charts. Go, Francine Cunningham @frcunningham speaks to @Telegraph about The Digital Services Act and how the rules would see t… https://t.co/1iG9lCLdFO, Podcast launch: Our Digital Rights & Assets group review the EU’s draft Data Governance Act and discuss its politic… https://t.co/W5xIA5v5iP, Singapore: Updates on retrenchment benefits during COVID-19. They also offered recommendations on managing excess manpower.    Customs Esports The tripartite partners, including the Ministry of Manpower (MOM), acknowledged that some employers have started to implement cost-saving measures to tide over the uncertain economy. Nordic Region Life Sciences and Healthcare KEPPEL Corporation launched a new two-year programme under its partnership with the China Foundation for Poverty... NEREIDES Antonio Giamundo de Bourbon, the global marketing head of Bellagraph Nova Group (BN Group), has said that... MIYOSHI'S independent auditors BDO have issued a qualified opinion on the group's financial statements for the year... [SINGAPORE] PRIME Minister Lee Hsien Loong will be addressing the nation at 5pm on Monday to give an update on the... UOL Group said on Sunday afternoon that the first weekend launch of the Clavon condominium along Clementi Avenue 1... By signing up, you agree to our Privacy Policy and Terms and Conditions. Intellectual Property    Gambling    Games The EU Trade Mark Reform - The biggest change to trade mark law for 20 years Recognizing that retrenchments may now be inevitable for businesses continuing to be negatively affected by COVID-19, the Ministry of Manpower (MOM), the National Trades Union Congress (NTUC) and the Singapore National Employers Federation (SNEF) (collectively, the Tripartite Partners) have …    Private Equity The author of the FAQ cites the Employment Act for the definition of a retrenchment.    Transactional IP Coronavirus (COVID-19) Data on retrenchment are useful in monitoring the impact of an economic downturn or restructuring on workers and in identifying industries which are re-structuring or ailing. European Electronic Communications Code    EU & UK Representative Services General Data Protection Regulation This article is produced by our Singapore office, Bird & Bird ATMD LLP, and does not constitute legal advice.    Product design Belgium Practice Area premium content on your favourite platforms, Keppel contributes to uplifting rural communities in Yunnan, BN Group global marketing head denies hacking Novu Aesthetics' Instagram account, Miyoshi gets qualified opinion from auditors on FY2020 financial statements, PM Lee to address nation on Singapore's Covid-19 situation at 5pm on Monday, UOL sells about 70% of Clavon's 640 units at average price of S$1,640 psf, Oil rises from the ashes as the big coronavirus recovery trade, Malaysia's Top Glove fired whistleblower before virus outbreak, Yet another twist in Singapore's Loh cousins saga. Sweden Autonomous Driving Payment Services Investigations THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times.    Luxury, Fashion & Retail    Competition & Regulatory Investigations    Energy Digitalisation For unionised employers who are experiencing severe financial difficulties, they are encouraged to negotiate with their unions for a mutually accepted retrenchment package. Spain    Mergers & Acquisitions Luxembourg Following the update to the travel restrictions imposed and travel advisories issued by the Ministry of Health of Singapore ("MOH") in light of the COVID-19 outbreak, the Ministry of Manpower of Singapore ("MOM") had on 16 March 2020 issued advisories on (a) employee travel to and from affected COVID-19 areas; and (b) non-essential travel … On top of that, Singapore's Q1 2020 Net Employment Outlook, which represents the difference in the percentage of employers expecting to increase and decrease, is … Please contact our lawyers if you have any specific queries. Finland    Aircraft Finance    Online & Digital Asia-Pacific Infrastructure    Construction and engineering North America Check out top news from Singapore and around the world. The Ministry of Manpower ("MOM") has also issued further guidance on the Safe Management Measures to be adopted at the workplace as updated on 19 May 2020.    Data breach & Incident Response Service Covid-19: S'pore could see 150,000 to 200,000 retrenchments, negative GDP growth of 6%. Israel News.    White Collar Crime Investigations The Internet of Things As set out in the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment(referred to as the “Advisory” in this article), the selection of employees for retrenchment should be based on objective criteria and conducted in a fair manner. Employers whose businesses are adversely affected are encouraged to work together with the union (if applicable) or their employees to renegotiate for a fair retrenchment benefit which corresponds with the employees' years of service.    Hotels, Hospitality & Leisure    Commercial Disputes 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. Germany Singapore updated the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment in view of the evolving COVID-19 situation. 1. Influencer Marketing Energy & Utilities Aviation & Aerospace    Energy Network and Transmission Tech Transactions    Airports    Broadcasting PHOTO: The Straits Times    Sport 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. Employers who are in a sound financial position should continue to pay retrenchment benefits in accordance with their existing employment contracts, collective agreements, memoranda of understanding, or the prevailing norm for retrenchment benefit (between 2 weeks and 1 month salary per year of service for employees with 2 years' of service or more),  in accordance to the Tripartite Advisory.    Indirect Tax, Trade and Customs Australia's Notifiable Data Breach Scheme Retail and Consumer Central and Eastern Europe Competition & EU Law SINGAPORE: Singapore's overall unemployment rate rose in the second quarter to its highest level in more than a decade, as retrenchments more … The Tripartite Partners have yet again updated the Advisory on 17 October 2020 ("Updated Advisory") to emphasise key desired outcomes in any retrenchment exercise, in light of retrenchments being inevitable for some employers despite available government grants and support. OTT Summary of retrenchment, layoff and job cut news in Singapore and Asia 2020, and how to know if your industry is affected Denmark    EU Trade Defence Unmanned Aerial Systems, Location Retrenchment due to restructuring. Defence & Security    Satellite and Space activities It is intended to provide general information only. United Arab Emirates    Communications This translates to 112,500 unemployed residents in September, of which 97,700 were among citizens. A summary of the updates is as follows: Maintaining a Singaporean core The Ethical Workplace & The Law In Practice    Brands With the Covid-19 pandemic and the change in work arrangements, 2020 has been a tough year for taxi companies in Singapore.. Slovak Republic Singapore. Implementation Tracker AVMS Directive The Straits Times/Asia News Network / 01:36 PM September 15, 2020 Retrenched Singapore Airlines staff have been told that they will continue to receive their salaries until Dec 15, 2020… Franchising Navigating Hong Kong's Competition Law Experts said the retrenchment was not surprising, given that tourism has stopped in Singapore due to travel restrictions aimed at curbing the spread of Covid-19. Meanwhile, Singapore’s seasonally-adjusted unemployment rate edged up to 3.6% in September, deteriorating from the 3.4% registered in August.    Data Centres    Civil Law Investigations This involves taking into account the following non-exhaustive factors when conducting a retrenchment exer… UK In Singapore’s annual wage guidelines announced yesterday (30 March), the NWC called on employers to conduct retrenchment exercises in a responsible manner. Singapore France    Tax Disputes The Unitary Patent and the Unified Patent Court Hungary The Tripartite Partners have yet again updated the Advisory on 17 October 2020 (“Updated Advisory“) to emphasise key desired outcomes in any retrenchment exercise, in light of retrenchments being inevitable for some employers despite available government grants and support. Bird & Bird Plus Australia Startup; Digital News . RESEND    Oil & Gas This is in view of the support measures provided by the government including training grants and wage support such as the Jobs Support Scheme. Please confirm for access to all your SPH accounts. Middle East 5G Lastly, employers are encouraged to support their retrenched employees in gaining new employment through business networks or by utilising the Workforce Singapore Employment and Employability Institute platforms.    Energy Management Retrenchment doubled in Singapore in the last three months The number of employees placed on shorter work weeks or temporary layoffs rose to an unprecedented high of 81,720 in the second quarter, as firms battled fallout from the Covid-19 pandemic. Oxygy In focus    Procurement Challenges    Commercial Aerospace Further to our article first published on 14 May 2020, here is an update on the current situation in view of COVID-19, the Ministry of Health has recently announced the end of the Circuit Breaker on 1 June 2020 and a 3- phase approach to resuming activities safely (Phase One - Safe Re-opening (w.e.f 2 June 2020), Phase Two - Safe Transition and Phase Three  - Safe Nation).    Social Affected workers from Suntec Singapore Convention & Exhibition Centre receiving support following the retrenchment exercise on Aug 27, 2020.    Mining and Minerals Copyright Directive Guide to IP rights in the UK You can search by keyword, sector or practice area and then optionally filter by a location, Keywords    Glossary of terms used in relation to Brexit Singapore October 21 2020 Given the uncertain economy outlook, in May 2020, the tripartite partners i.e. South Korea Digital Rights & Assets    Unmanned Aircraft Systems Russia and the CIS Czech Republic CALL +65 6388 3838 EMAIL btocs@sph.com.sg, OPERATING HOURS (+8 GMT) MON-FRI: 8:30AM-5:30PM, For daily updates on weekdays and specially selected content for the weekend. "Is it really a retrenchment?"    Export Controls, Sanctions and Embargoes In Your Corner    Employee Incentives and Benefits Businesses also need to push for higher productivity in the face of slower manpower growth and keen external competition.    International Arbitration Automotive Trade Secrets International Expansion Trade and Customs The impact caused by the coronavirus proved to be too much for electric-taxi company HDT, who announced that they will soon be exiting the taxi business in Singapore.    International Education Real Estate    Postal Subscribe to t.me/BizTimes. International HR Services Most offices can also re-open, but with tele-commuting adopted to the maximum extent. Lifestyle. Cybersecurity Poland GE2020.    Food & Beverage Regulatory    Consumer Law Italy    Cloud, Software & Services Mobile Health IN THE first half of 2020, 5,280 Singaporeans were retrenched, said Manpower Minister Josephine Teo in Parliament on Friday, during a sitting which saw multiple Members of Parliament raising concerns about employment issues and fair consideration. © 2020 SINGAPORE PRESS HOLDINGS LTD. REGN NO.    Wellness FinTech    Forensic Services    Life Sciences    Corporate Tax Here are tips to help you better interact with the statistics    Nuclear    Travel 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. VERIFICATION EMAIL. The Covid19 pandemic has changed Singapore's politico-socio-economic landscape, so the SDP has drawn up 5 focus points to deal with these changes in the immediate and long-terms.    Trade Secrets    Venture Capital For non-unionised Employers, they are encouraged to support the affected employees by providing a lump sum ranging from one and three months of salary instead. Advisory for Employers on Employee Travel.    Transfer Pricing Covid-19.    Patents Public Projects and Procurement    Marketing    Publishing Blockchain Digital Services Tax The MOM has restated that retrenchment should always be considered as a last resort when managing manpower costs.    Renewables    Capital Markets Transform. Malaysia Tell us what kind of news matters to you! Follow the latest news on retrenchment at TODAYonline. Cloud Computing Retrenchment numbers in the first half of 2020 hit 11,350, exceeding initial estimations, said the Ministry of Manpower. IN THE first half of 2020, 5,280 Singaporeans were retrenched, said Manpower Minister Josephine Teo in Parliament on Friday, during a sitting which saw multiple Members of Parliament raising concerns about employment issues and fair consideration.    Competition Toolkit Video Demos Workforce retrenchment in Singapore is expected to hit record numbers as a result of economic disruption from the coronavirus (COVID-19) pandemic. Japan Technology & Communications Tax Corporate Product compliance and liability Brexit Regulatory and Administrative France Switzerland and Austria Netherlands The Singapore Democratic Party (SDP) launched its General Elections (GE) campaign on 28 April 2020. At Phase One, most manufacturing companies can resume full production, subject to the issued guidelines set for the manufacturing sector. Transact. The EU Whistleblowing Directive Mrs Teo said that 400 firms are on the Fair Consideration Framework (FCF) watchlist for reasons related to foreign hiring practices. This article features the Ministry of Manpower (MOM), Labour market 3Q2020, Singapore economy, unemployment, Retrenchments Fall in Singapore's total employment and retrenchment improves in 3Q2020 | The Edge Singapore    GDPR    Food & Beverage Although the Advisory is not legally binding on employers, it outlines progressive workplace practices that employers should adopt. We will continue to monitor the situation and provide updates on any changes as soon as these are communicated to us. Dispute Resolution China Further to our article first published on 14 May 2020, here is an update on the current situation in view of COVID-19, the Ministry of Health has recently announced the end of the Circuit Breaker on 1 June 2020 and a 3- phase approach to resuming activities safely (Phase One - Safe Re-opening (w.e.f 2 June 2020), Phase Two - Safe Transition and Phase Three - Safe Nation). Latin America Tessellate 2020 could see the worst recession in the whole of Singapore's existence as a nation. Lifestyle News. Employers must put in place and enforce Safe Management Measures at the workplace and checks will be conducted by the relevant authorities.    Airlines AND RESPONSIBLE RETRENCHMENT (Updated 17 October 2020) Introduction The Singapore economy is open and highly exposed to changes in external demand and supply in the global economy.    Rail    Employment In Focus India the Ministry of Manpower ("MOM"), the Singapore … ... M1 retrenched 50 Singapore employees in February 2020, according to an official statement. Separately, MOM has also issued an Advisory on retrenchment benefits payable to retrenched employees as a result of business difficulties due to COVID-19 on 20 May 2020. 198402668E. Commercial Compared to SARS, where there were only 5,510 retrenchments, Covid-19 has proven itself deadlier to Singapore’s economy. Sector The number of jobs available in Singapore has shrunk by 121,800 in the second quarter of 2020, more than 4x worse than the first quarter where total employment only shrunk by 25,600. Medical Devices Singapore News -It is likely a matter of time before Marina Bay Sands (MBS) will have to let go of some of its staff due to the fallout from the Covid-19 pandemic, said analysts, following a    Business Immigration A summary of the updates is as follows: Maintaining a Singaporean core Regulatory & Public Affairs HDT Singapore Shuts Electric-Taxi Business Due To Covid-19 Impact. Privacy and Data Protection Western Europe The retrenchment exercise - which affects about 2,400 staff - is being conducted at the SIA Training Centre, near Changi Airport, for Singapore-based staff.    Copyright & related rights    Energy Storage SIA had announced that it would slash about 20 per cent of its headcount - about 4,300 positions - amid the COVID-19 … Please note that the information in this article is accurate as at 20 May 2020. Hello, your email is unverified. United States Restructuring and Insolvency    Devices and Components Reports of Trade Mark Cases for CIPA Journal    Healthcare    Music Follow the latest news and comprehensive coverage on RETRENCHMENT at CNA Finance & Financial Regulation Summary Table: Retrenchment Retrenchment refers to the termination of permanent employees due to redundancy and early termination of term contract employees due to redundancy. 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