Fewer Singapore retrenchments in 2024 than in 2023; resident employment grew, says MOM

There were 3,600 retrenchments in the fourth quarter of 2024, up from 3,050 in the previous quarter. -- ST PHOTO: JASON QUAH

SINGAPORE (The Straits Times/ANN): Layoffs rose in the last quarter of 2024, but the year still closed with fewer layoffs than in 2023, and more Singapore residents in jobs.

There were 3,600 retrenchments in the fourth quarter of 2024, up from 3,050 in the previous quarter, according to preliminary labour market data released by the Ministry of Manpower (MOM) on Jan 27.