Wave of layoffs: An early signal of structural economic transformation

The recent series of layoffs in Singapore reflects short-term business pressures and broader structural changes across different sectors, analysts said. While each company has its own specific reasons for laying off workers, analysts noted several common factors, including rising costs, technological shifts and the restructuring of global supply chains. Asst Prof Chua Yeow Hwee from NTU urged the public not to interpret the layoffs as a sign that Singapore’s labour market is weakening sharply, noting that the cases span different sectors such as manufacturing, retail, finance and technology.

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