US-China trade war sees Singapore chipmakers cut jobs

Workers monitor microchip production in the clean room at the UTAC plant in Singapore. - Reuters filepics

SINGAPORE: Caught between a Sino-US trade war, political concerns over Chinese telecoms firm Huawei and slowing consumer demand, chipmakers in Singapore have started slowing production and laying off hundreds of jobs, firms told Reuters.

The slump in a sector that made up nearly a third of Singapore’s manufacturing output last year is reinforcing expectations that the export-driven economy could slide into recession in the coming months.