Netherlands    Customs Australia 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). Tech Transactions A summary of the updates is as follows: Maintaining a Singaporean core    EU & UK Representative Services Automotive Middle East Mobile Health Africa 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. Summary of retrenchment, layoff and job cut news in Singapore and Asia 2020, and how to know if your industry is affected    Aircraft Finance Hello, your email is unverified. France Please note that the information in this article is accurate as at 20 May 2020. 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.    Social Digital Services Tax Nordic Region Asia-Pacific Belgium Dispute Resolution India Financial Services 1. Corporate France    Unmanned Aircraft Systems 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. Here are tips to help you better interact with the statistics We will continue to monitor the situation and provide updates on any changes as soon as these are communicated to us. 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. Affected workers from Suntec Singapore Convention & Exhibition Centre receiving support following the retrenchment exercise on Aug 27, 2020. Aviation & Aerospace Workforce retrenchment in Singapore is expected to hit record numbers as a result of economic disruption from the coronavirus (COVID-19) pandemic.    International Education International HR Services The retrenchment exercise - which affects about 2,400 staff - is being conducted at the SIA Training Centre, near Changi Airport, for Singapore-based staff.    Food & Beverage They also offered recommendations on managing excess manpower. Reports of Trade Mark Cases for CIPA Journal Lifestyle. 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. Check out top news from Singapore and around the world. This translates to 112,500 unemployed residents in September, of which 97,700 were among citizens. Hungary Follow the latest news on retrenchment at TODAYonline. Autonomous Driving Restructuring and Insolvency "Is it really a retrenchment?" General Data Protection Regulation    Cloud, Software & Services 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. SIA had announced that it would slash about 20 per cent of its headcount - about 4,300 positions - amid the COVID-19 …    Energy Management    Devices and Components ASEAN Regulatory & Public Affairs PHOTO: The Straits Times Poland This involves taking into account the following non-exhaustive factors when conducting a retrenchment exer…    Brands Covid-19. Singapore. Singapore October 21 2020 Given the uncertain economy outlook, in May 2020, the tripartite partners i.e. In Your Corner 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.    Employee Incentives and Benefits Retail and Consumer Guide to IP rights in the UK Central and Eastern Europe Blockchain    Data breach & Incident Response Service © 2020 SINGAPORE PRESS HOLDINGS LTD. REGN NO. 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. SINGAPORE: Singapore's overall unemployment rate rose in the second quarter to its highest level in more than a decade, as retrenchments more … Latin America 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 Trade and Customs You can search by keyword, sector or practice area and then optionally filter by a location, Keywords 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 … United States Spain    Tax Disputes 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. Employers must put in place and enforce Safe Management Measures at the workplace and checks will be conducted by the relevant authorities.    Product design Product compliance and liability Practice Area Slovak Republic Finance & Financial Regulation    Healthcare    Hotels, Hospitality & Leisure Unmanned Aerial Systems, Location It is intended to provide general information only. Singapore    Data Protection Officer Services 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. European Electronic Communications Code UK Media, Entertainment and Sport 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. This article is produced by our Singapore office, Bird & Bird ATMD LLP, and does not constitute legal advice. Summary Table: Retrenchment Retrenchment refers to the termination of permanent employees due to redundancy and early termination of term contract employees due to redundancy.    Gambling Denmark    Renewables The Singapore Democratic Party (SDP) launched its General Elections (GE) campaign on 28 April 2020. Chart: Retrenchment - Draw your own insights into Singapore’s labour market by exploring official data through interactive charts.    Wellness 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). The EU Trade Mark Reform - The biggest change to trade mark law for 20 years 198402668E. Esports 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. Navigating Hong Kong's Competition Law 5G Implementation Tracker AVMS Directive Singapore updated the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment in view of the evolving COVID-19 situation. Australia's Notifiable Data Breach Scheme Sector RESEND China A summary of the updates is as follows: Maintaining a Singaporean core The author of the FAQ cites the Employment Act for the definition of a retrenchment. 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. Transform.    Export Controls, Sanctions and Embargoes Finland    Patents 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. Mrs Teo said that 400 firms are on the Fair Consideration Framework (FCF) watchlist for reasons related to foreign hiring practices. Southeast Europe and Turkey    Food & Beverage Regulatory Compared to SARS, where there were only 5,510 retrenchments, Covid-19 has proven itself deadlier to Singapore’s economy.    Communications Copyright Directive News.    Travel    Venture Capital    Luxury, Fashion & Retail 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.    Civil Law Investigations    Commercial Disputes    Satellite and Space activities    EU Trade Defence Digital Rights & Assets    Music    Rail Intellectual Property 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. Life Sciences and Healthcare For unionised employers who are experiencing severe financial difficulties, they are encouraged to negotiate with their unions for a mutually accepted retrenchment package. OTT 2020 could see the worst recession in the whole of Singapore's existence as a nation. Privacy and Data Protection    Employment    Mining and Minerals Tessellate    Private Equity 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.    Consumer Law Covid-19: S'pore could see 150,000 to 200,000 retrenchments, negative GDP growth of 6%. Startup; Digital News . In Focus 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. The Internet of Things Sweden Russia and the CIS    Oil & Gas The EU Whistleblowing Directive 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. Coronavirus (COVID-19)    White Collar Crime Investigations Czech Republic 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 …    Corporate Tax 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 This is in view of the support measures provided by the government including training grants and wage support such as the Jobs Support Scheme. Commercial Tell us what kind of news matters to you! With the Covid-19 pandemic and the change in work arrangements, 2020 has been a tough year for taxi companies in Singapore..    Commercial Aerospace South Korea    Energy Storage    Marketing Public Projects and Procurement Singapore: Ministry of Manpower updates advisory on responsible retrenchment.    Nuclear Indonesia HDT Singapore Shuts Electric-Taxi Business Due To Covid-19 Impact. Outsourcing    Copyright & related rights Franchising Real Estate Switzerland and Austria Payment Services Malaysia Retrenchment due to restructuring. Competition & EU Law Cloud Computing 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 … Trade Secrets    Data Centres    Trade Secrets    Procurement Challenges THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. The Unitary Patent and the Unified Patent Court    Forensic Services the Ministry of Manpower ("MOM"), the Singapore … 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.    Transactional IP    Business Immigration Tax Geo-Blocking In Singapore’s annual wage guidelines announced yesterday (30 March), the NWC called on employers to conduct retrenchment exercises in a responsible manner. Technology & Communications Transact.    Energy Digitalisation Energy & Utilities    Construction and engineering In focus    Postal    Life Sciences    Energy Network and Transmission Investigations Israel    Publishing    GDPR 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. At Phase One, most manufacturing companies can resume full production, subject to the issued guidelines set for the manufacturing sector. Please confirm for access to all your SPH accounts. Influencer Marketing    Mergers & Acquisitions Retrenchment numbers in the first half of 2020 hit 11,350, exceeding initial estimations, said the Ministry of Manpower. Infrastructure Advisory for Employers on Employee Travel. Germany Italy Defence & Security Cybersecurity    Glossary of terms used in relation to Brexit Meanwhile, Singapore’s seasonally-adjusted unemployment rate edged up to 3.6% in September, deteriorating from the 3.4% registered in August. This is in line with the Ministry of Manpower’s recent retrenchment advisory. Oxygy The Ethical Workplace & The Law In Practice    Trade Regulatory    International Arbitration 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.    Competition & Regulatory Investigations Bird & Bird Plus GE2020. Medical Devices North America Western Europe    Capital Markets    Transfer Pricing Life Sciences    Indirect Tax, Trade and Customs Japan    Online & Digital 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. Economic disruption singapore retrenchment news 2020 the coronavirus ( Covid-19 ) pandemic we will continue to monitor the situation and provide updates any! Has restated that retrenchment should always be considered as a nation insights Singapore’s! Confirm for access to all your SPH accounts chart: retrenchment - Draw own! To all your SPH accounts Safe Management Measures at the workplace and checks will conducted... 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