Singapore labour market: Retrenchments climb in Q1, rate rose sharply among degree holders
Retrenchments in Singapore climbed in the first quarter this year, the highest since the third quarter of 2023. Notably, the rate of retrenchments rose sharply among degree holders, the highest among all qualification groups. Experts say this could point to a growing mismatch between the skills employers need and those available, as companies restructure amid technological change. Caitlin Ng with this report.
Retrenchments in Singapore climbed in the first quarter this year, the highest since the third quarter of 2023. Notably, the rate of retrenchments rose sharply among degree holders, the highest among all qualification groups. Experts say this could point to a growing mismatch between the skills employers need and those available, as companies restructure amid technological change. Caitlin Ng with this report.
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