Singapore layoffs hit highest level since 2020 in third quarter

Singapore recorded 4,800 retrenchments in the third quarter of 2026, the highest level since late 2020 during the Covid-19 pandemic. The rise, driven by business reorganisations, came despite overall employment growth of 27,700 during the quarter. The Ministry of Manpower flagged emerging weaknesses in parts of the labour market, with more companies indicating plans to retrench employees over the next three months.