Malaysia Australia's Notifiable Data Breach Scheme International HR Services    International Arbitration Australia    Data breach & Incident Response Service Transact. It is intended to provide general information only. Intellectual Property    Indirect Tax, Trade and Customs    Tax Disputes    Energy Digitalisation    Communications This translates to 112,500 unemployed residents in September, of which 97,700 were among citizens.    Cloud, Software & Services Sweden Reports of Trade Mark Cases for CIPA Journal 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 … Mrs Teo said that 400 firms are on the Fair Consideration Framework (FCF) watchlist for reasons related to foreign hiring practices. Practice Area 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. Financial Services 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. Covid-19: S'pore could see 150,000 to 200,000 retrenchments, negative GDP growth of 6%. 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 …    Customs    Music    Online & Digital    Publishing Meanwhile, Singapore’s seasonally-adjusted unemployment rate edged up to 3.6% in September, deteriorating from the 3.4% registered in August. This article is produced by our Singapore office, Bird & Bird ATMD LLP, and does not constitute legal advice.    Civil Law Investigations    Mergers & Acquisitions Hungary 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. Infrastructure    Energy Management Oxygy Belgium Navigating Hong Kong's Competition Law 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). Finland 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. SINGAPORE: Singapore's overall unemployment rate rose in the second quarter to its highest level in more than a decade, as retrenchments more …    Venture Capital Switzerland and Austria Autonomous Driving ASEAN    EU & UK Representative Services Please contact our lawyers if you have any specific queries. Slovak Republic Indonesia Japan Lifestyle. Sector THE BUSINESS TIMES retrenchment - Find retrenchment News & Headlines, insight and analysis in Singapore, Asia-Pacific & global markets news at The Business Times. Digital Services Tax Chart: Retrenchment - Draw your own insights into Singapore’s labour market by exploring official data through interactive charts. The Ethical Workplace & The Law In Practice Asia-Pacific Geo-Blocking © 2020 SINGAPORE PRESS HOLDINGS LTD. REGN NO. 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. Retrenchment due to restructuring.    Healthcare Businesses also need to push for higher productivity in the face of slower manpower growth and keen external competition. The author of the FAQ cites the Employment Act for the definition of a retrenchment.    Airlines Retail and Consumer    Glossary of terms used in relation to Brexit Life Sciences Franchising Medical Devices UK    Gambling Dispute Resolution    Capital Markets 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 Tax Restructuring and Insolvency Luxembourg    Food & Beverage Middle East    EU Trade Defence    Marketing    Data Protection Officer Services Trade and Customs    Nuclear At Phase One, most manufacturing companies can resume full production, subject to the issued guidelines set for the manufacturing sector. 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A summary of the updates is as follows: Maintaining a Singaporean core Digital Rights & Assets Brexit Cloud Computing    Employment Tech Transactions Compared to SARS, where there were only 5,510 retrenchments, Covid-19 has proven itself deadlier to Singapore’s economy.    White Collar Crime Investigations For unionised employers who are experiencing severe financial difficulties, they are encouraged to negotiate with their unions for a mutually accepted retrenchment package.    Mining and Minerals    Transactional IP    Wellness Public Projects and Procurement    Consumer Law Poland The EU Whistleblowing Directive Bird & Bird Plus Outsourcing A summary of the updates is as follows: Maintaining a Singaporean core Competition & EU Law Employers must put in place and enforce Safe Management Measures at the workplace and checks will be conducted by the relevant authorities. Follow the latest news on retrenchment at TODAYonline. United States    Copyright & related rights They also offered recommendations on managing excess manpower. Singapore. Follow the latest news and comprehensive coverage on RETRENCHMENT at CNA Singapore: Ministry of Manpower updates advisory on responsible retrenchment.    Social Guide to IP rights in the UK    Business Immigration Trade Secrets    Rail    Devices and Components The EU Trade Mark Reform - The biggest change to trade mark law for 20 years Hello, your email is unverified. Italy ... M1 retrenched 50 Singapore employees in February 2020, according to an official statement. 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.    Travel Unmanned Aerial Systems, Location Germany Commercial General Data Protection Regulation    Aircraft Finance    Commercial Aerospace 5G In Singapore’s annual wage guidelines announced yesterday (30 March), the NWC called on employers to conduct retrenchment exercises in a responsible manner.    Competition & Regulatory Investigations Aviation & Aerospace    Transfer Pricing 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 Singapore Democratic Party (SDP) launched its General Elections (GE) campaign on 28 April 2020.    Games The MOM has restated that retrenchment should always be considered as a last resort when managing manpower costs. VERIFICATION EMAIL. Defence & Security Singapore October 21 2020 Given the uncertain economy outlook, in May 2020, the tripartite partners i.e. 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    Commercial Disputes Payment Services Energy & Utilities Product compliance and liability    Life Sciences Israel    Airports    Luxury, Fashion & Retail Technology & Communications Startup; Digital News . This is in line with the Ministry of Manpower’s recent retrenchment advisory. 1.    Patents    Oil & Gas Southeast Europe and Turkey Workforce retrenchment in Singapore is expected to hit record numbers as a result of economic disruption from the coronavirus (COVID-19) pandemic. 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.    Renewables Czech Republic 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). Blockchain    Broadcasting    Corporate Tax 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. United Arab Emirates Summary Table: Retrenchment Retrenchment refers to the termination of permanent employees due to redundancy and early termination of term contract employees due to redundancy. 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. Although the Advisory is not legally binding on employers, it outlines progressive workplace practices that employers should adopt. France 198402668E. News.    Product design Investigations Automotive Western Europe    Export Controls, Sanctions and Embargoes 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. The retrenchment exercise - which affects about 2,400 staff - is being conducted at the SIA Training Centre, near Changi Airport, for Singapore-based staff. Netherlands    Satellite and Space activities Tell us what kind of news matters to you! 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.    Procurement Challenges 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.    Energy Network and Transmission    GDPR    Data Centres    Energy Storage GE2020. 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