singapore retrenchments

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Singapore experienced its highest level of retrenchments since the pandemic, with a 17.5% increase in Q2 layoffs despite stable unemployment figures.

Singapore's retrenchments have reached their highest quarterly level since the onset of the COVID-19 pandemic, with a 17.5% rise in layoffs during the second quarter of the year. Approximately 4,500 workers were laid off, marking a significant uptick even as overall employment growth continues and unemployment rates remain broadly stable. This surge in job cuts has elicited concern among workers and observers who are closely monitoring the country's economic health.