Corporate Tax Italy Please confirm for access to all your SPH accounts. Unmanned Aerial Systems, Location ASEAN    Patents Franchising Sweden    Tax Disputes United Arab Emirates 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. FinTech Employers must put in place and enforce Safe Management Measures at the workplace and checks will be conducted by the relevant authorities. The Internet of Things    Construction and engineering Hello, your email is unverified. Defence & Security Subscribe to t.me/BizTimes. Trade Secrets    EU & UK Representative Services 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. 2020 could see the worst recession in the whole of Singapore's existence as a nation. Central and Eastern Europe Reports of Trade Mark Cases for CIPA Journal Esports 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. 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. Please contact our lawyers if you have any specific queries. "Is it really a retrenchment?" Bird & Bird Plus SINGAPORE: Singapore's overall unemployment rate rose in the second quarter to its highest level in more than a decade, as retrenchments more … Aviation & Aerospace Oxygy Most offices can also re-open, but with tele-commuting adopted to the maximum extent. France    Employment 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. They also offered recommendations on managing excess manpower.    Rail In Singapore’s annual wage guidelines announced yesterday (30 March), the NWC called on employers to conduct retrenchment exercises in a responsible manner. Indonesia    Data Centres Covid-19: S'pore could see 150,000 to 200,000 retrenchments, negative GDP growth of 6%. 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. Startup; Digital News .    GDPR A summary of the updates is as follows: Maintaining a Singaporean core Singapore: Ministry of Manpower updates advisory on responsible retrenchment.    Copyright & related rights 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.    Energy Digitalisation    Mining and Minerals Dispute Resolution Finland The retrenchment exercise - which affects about 2,400 staff - is being conducted at the SIA Training Centre, near Changi Airport, for Singapore-based staff. 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    Communications    Social Chart: Retrenchment - Draw your own insights into Singapore’s labour market by exploring official data through interactive charts. SIA had announced that it would slash about 20 per cent of its headcount - about 4,300 positions - amid the COVID-19 …    Business Immigration Coronavirus (COVID-19)    Music    Luxury, Fashion & Retail 1. Compared to SARS, where there were only 5,510 retrenchments, Covid-19 has proven itself deadlier to Singapore’s economy. Poland    White Collar Crime Investigations Singapore 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. Life Sciences and Healthcare Spain This translates to 112,500 unemployed residents in September, of which 97,700 were among citizens. Real Estate    Games Lifestyle. International HR Services    Energy Network and Transmission Middle East Mrs Teo said that 400 firms are on the Fair Consideration Framework (FCF) watchlist for reasons related to foreign hiring practices. 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. Western Europe It is intended to provide general information only. Singapore. Hungary    Competition & Regulatory Investigations Here are tips to help you better interact with the statistics    Marketing Workforce retrenchment in Singapore is expected to hit record numbers as a result of economic disruption from the coronavirus (COVID-19) pandemic.    Publishing    Life Sciences Lifestyle News. 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.    Food & Beverage Regulatory Energy & Utilities Retrenchment numbers in the first half of 2020 hit 11,350, exceeding initial estimations, said the Ministry of Manpower. ... M1 retrenched 50 Singapore employees in February 2020, according to an official statement. 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.    Export Controls, Sanctions and Embargoes In Your Corner    Wellness North America News. Tax the Ministry of Manpower ("MOM"), the Singapore … Payment Services In Focus THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times.    Trade Secrets Germany 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). Finance & Financial Regulation    Brands The Ethical Workplace & The Law In Practice International Expansion Asia-Pacific 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. Nordic Region Latin America Product compliance and liability    Satellite and Space activities 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. Summary Table: Retrenchment Retrenchment refers to the termination of permanent employees due to redundancy and early termination of term contract employees due to redundancy. Slovak Republic Navigating Hong Kong's Competition Law    Healthcare The Unitary Patent and the Unified Patent Court 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.    Data Protection Officer Services    Energy Storage    Venture Capital Retrenchment due to restructuring.    Glossary of terms used in relation to Brexit Restructuring and Insolvency Corporate European Electronic Communications Code 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.    Travel    Mergers & Acquisitions 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. India Regulatory and Administrative Cybersecurity South Korea Public Projects and Procurement The MOM has restated that retrenchment should always be considered as a last resort when managing manpower costs. 198402668E. Please note that the information in this article is accurate as at 20 May 2020. Privacy and Data Protection Businesses also need to push for higher productivity in the face of slower manpower growth and keen external competition. Covid-19. Autonomous Driving Switzerland and Austria Automotive Singapore updated the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment in view of the evolving COVID-19 situation. This article is produced by our Singapore office, Bird & Bird ATMD LLP, and does not constitute legal advice. 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 …    Competition Toolkit Video Demos    Online & Digital Intellectual Property Follow the latest news and comprehensive coverage on RETRENCHMENT at CNA 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 Blockchain    Postal    Hotels, Hospitality & Leisure Meanwhile, Singapore’s seasonally-adjusted unemployment rate edged up to 3.6% in September, deteriorating from the 3.4% registered in August. Africa    Devices and Components    Customs China The Singapore Democratic Party (SDP) launched its General Elections (GE) campaign on 28 April 2020.    Trade Regulatory    Private Equity 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. Transform. PHOTO: The Straits Times 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. The EU Whistleblowing Directive    Transfer Pricing Singapore October 21 2020 Given the uncertain economy outlook, in May 2020, the tripartite partners i.e. UK    Airports 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.    Food & Beverage United States Brexit Affected workers from Suntec Singapore Convention & Exhibition Centre receiving support following the retrenchment exercise on Aug 27, 2020. Medical Devices Japan In focus    Sport Geo-Blocking Luxembourg    Transactional IP 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. General Data Protection Regulation For unionised employers who are experiencing severe financial difficulties, they are encouraged to negotiate with their unions for a mutually accepted retrenchment package. Denmark    Commercial Aerospace 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 … 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…    Cloud, Software & Services HDT Singapore Shuts Electric-Taxi Business Due To Covid-19 Impact. Tell us what kind of news matters to you! Although the Advisory is not legally binding on employers, it outlines progressive workplace practices that employers should adopt. Trade and Customs    Employee Incentives and Benefits Copyright Directive    Energy Management Sector    International Arbitration 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. RESEND Media, Entertainment and Sport Technology & Communications    Forensic Services    Procurement Challenges The EU Trade Mark Reform - The biggest change to trade mark law for 20 years Life Sciences Outsourcing 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. Digital Rights & Assets 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. Summary of retrenchment, layoff and job cut news in Singapore and Asia 2020, and how to know if your industry is affected France    Civil Law Investigations A summary of the updates is as follows: Maintaining a Singaporean core Practice Area Malaysia 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 … This involves taking into account the following non-exhaustive factors when conducting a retrenchment exer… Check out top news from Singapore and around the world. Cloud Computing Tech Transactions Competition & EU Law Tessellate Investigations    Gambling Australia Mobile Health    Commercial Disputes We will continue to monitor the situation and provide updates on any changes as soon as these are communicated to us. VERIFICATION EMAIL. GE2020.    Product design 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). Israel This is in line with the Ministry of Manpower’s recent retrenchment advisory. Netherlands This is in view of the support measures provided by the government including training grants and wage support such as the Jobs Support Scheme.    International Education Implementation Tracker AVMS Directive With the Covid-19 pandemic and the change in work arrangements, 2020 has been a tough year for taxi companies in Singapore.. Commercial 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.    Data breach & Incident Response Service    Nuclear Infrastructure Retail and Consumer Guide to IP rights in the UK Follow the latest news on retrenchment at TODAYonline. 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.    Indirect Tax, Trade and Customs Advisory for Employers on Employee Travel.    Unmanned Aircraft Systems Belgium The author of the FAQ cites the Employment Act for the definition of a retrenchment.    Capital Markets Financial Services OTT Transact.    Broadcasting © 2020 SINGAPORE PRESS HOLDINGS LTD. REGN NO. Czech Republic    Consumer Law    Renewables    Aircraft Finance Russia and the CIS At Phase One, most manufacturing companies can resume full production, subject to the issued guidelines set for the manufacturing sector.    Oil & Gas    EU Trade Defence Regulatory & Public Affairs 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. You can search by keyword, sector or practice area and then optionally filter by a location, Keywords    Airlines Influencer Marketing 5G Southeast Europe and Turkey Australia's Notifiable Data Breach Scheme Digital Services Tax Employers who are experiencing severe financial difficulties, they are encouraged to negotiate with their unions a. Were among citizens chart: retrenchment - Draw your own insights into labour! To us with the statistics HDT Singapore Shuts Electric-Taxi Business Due to Impact... 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