Koh Poh Koon on guidelines on retrenchment payouts
Between 2020 and 2025, based on mandatory retrenchment notification data submitted by companies with 10 or more employees, around nine in 10 eligible employees received retrenchment benefits. Among them, around eight in 10 received retrenchment benefits of at least two weeks' salary per year of service, in line with the norm stated in the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment. Senior Minister of State for Manpower Koh Poh Koon said this in reply to MPs’ questions in parliament on Wednesday (Feb 4).
Between 2020 and 2025, based on mandatory retrenchment notification data submitted by companies with 10 or more employees, around nine in 10 eligible employees received retrenchment benefits. Among them, around eight in 10 received retrenchment benefits of at least two weeks' salary per year of service, in line with the norm stated in the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment. Senior Minister of State for Manpower Koh Poh Koon said this in reply to MPs’ questions in parliament on Wednesday (Feb 4).
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