SINGAPORE – The number of workers laid off last year rose for the fourth consecutive year, said the Manpower Ministry (MOM) in a report released on Thursday.
A total of 12,930 people lost their jobs in 2014, up from 11,560 in 2013.
MOM found that the majority of the affected workers were from the services sector, which had employed 56.2 per cent of those who were asked to go. Companies in the sector listed business restructuring for greater work efficiency as the top reason for redundancy last year.
Professionals, managers, executives and technicians (PMETs) were once again most vulnerable to layoffs, a trend that has continued since 2012. But their share of the overall pool of workers made redundant last year fell off slightly at just over half, or 50.5 per cent, down from a peak of 55.6 per cent in 2013.
“What the statistics didn’t say was how many of the PMETs who were laid off are Singaporeans?” asked Jeremy Tan, 28, a former financial analyst.