Programmes to Maintain Employment Stability and Attract MNC Investments amidst Staff Cut Announcements
Ministry of ManpowerSpeakers
Summary
This question concerns measures to maintain employment stability and attract multinational investments following recent staff cuts, alongside retraining support for affected workers. Minister for Manpower Dr Tan See Leng highlighted that resident PMET jobs grew by 35,000 in 2024 and reaffirmed Singapore's commitment to a pro-business environment and skilled workforce. He noted that retrenchments remain within historical ranges, while the Taskforce for Responsible Retrenchment and Employment Facilitation provides career matching and training referrals for those affected. Support initiatives include Career Conversion Programmes, the SkillsFuture Level-Up Programme, and the Mid-Career Pathways Programme to assist workers in transitioning into growth sectors. Furthermore, the SkillsFuture Jobseeker Support scheme offers eligible individuals up to $6,000 over six months to facilitate their search for jobs that match their skills.
Transcript
95 Mr Saktiandi Supaat asked the Minister for Manpower in light of recent announcement by foreign firms of staff cuts in Singapore (a) what measures are the Government adopting to maintain employment stability and attract or retain multinational investments; and (b) whether there are targeted supports or retraining programmes for affected workers in sectors impacted by such downsizing.
Dr Tan See Leng: While some foreign firms have announced staff cuts recently, overall retrenchments remain within historical ranges, and good jobs continue to be created. In 2024, the number of residents in professional, manager, executive and technician (PMET) jobs grew by about 35,000, mainly in higher-paying growth sectors like financial services, information and communications, and professional services, reflecting continued creation of quality jobs for locals. We continue to attract and retain foreign investments through a pro-business environment, a skilled workforce and strong infrastructure.
Where there is downsizing in certain areas, the Taskforce for Responsible Retrenchment and Employment Facilitation makes concerted efforts to reach out to affected retrenched workers and offer career matching services and referrals to our training programmes, helping them move into growth areas. We have put in place a comprehensive suite of programmes to support workers to take on new job roles with good longer-term prospects. These include the Career Conversion Programmes, SkillsFuture Level-Up Programme and Mid-Career Pathways Programme. In addition, the SkillsFuture Jobseeker Support scheme provides temporary financial support of up to $6,000 over six months to eligible lower- and middle-income retrenched individuals to support them in finding a job that makes better use of their skills and experience.