MOM reveals 1,270 non-tech workers in tech firms were retrenched
Over 8 in 10 who were laid off were non-tech roles.
As demand for digitisation grows, tech firms in Singapore retrenches more than 1,000 employees that are not linked to technology roles from July to November 2022.
Responding to parliamentary queries, Minister for Manpower Tan See Leng revealed that 1,270, mostly from sales, marketing, and corporate functions are laid off in tech companies. Around seven in 10 of the retrenched workers are aged 35 and below.
"This is consistent with the low median age of employed residents in the information and communications sector," Tan added.
There are also employment support measures for the retrenched workers as most of them were able to get reemployed.
"In 2Q 2022, the rate of re-entry into employment within six months post-retrenchment for residents in the sector was higher than in the overall economy, for both tech and non-tech workers," said Tan.
Half of the retrenching tech firms also collaborated with partners or industry networks to allow affected workers get a career shift.