SINGAPORE: Companies with at least 10 employees will have to inform the Ministry of Manpower (MOM) of any retrenchments from Nov 1.
Currently, they are required to file the mandatory retrenchment notification only when retrenching five or more employees within six months.
The change will “allow the tripartite partners and relevant agencies to provide timely support and assistance to workers who are retrenched”, said MOM.
The notification has to be filed by employers within five working days after they provide notice of retrenchment to the affected worker or workers. Companies that do not comply can be fined up to S$2,000.
The tripartite partners, including Workforce Singapore and NTUC’s e2i, will reach out to affected local employees to provide employment and job search support.
“Employers should also ensure that they manage any retrenchment exercises responsibly and fairly, in line with the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment,” said MOM.
Retrenchments rose in 2020 due to the COVID-19 pandemic, affecting 26,110 workers compared to 2019’s 10,690. But quarterly figures show that the number of retrenchments declined towards the end of 2020 and in the first quarter of 2021.
More details on the mandatory retrenchment notification can be found on the MOM website .
Continue reading...
Currently, they are required to file the mandatory retrenchment notification only when retrenching five or more employees within six months.
The change will “allow the tripartite partners and relevant agencies to provide timely support and assistance to workers who are retrenched”, said MOM.
The notification has to be filed by employers within five working days after they provide notice of retrenchment to the affected worker or workers. Companies that do not comply can be fined up to S$2,000.
The tripartite partners, including Workforce Singapore and NTUC’s e2i, will reach out to affected local employees to provide employment and job search support.
“Employers should also ensure that they manage any retrenchment exercises responsibly and fairly, in line with the Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment,” said MOM.
Retrenchments rose in 2020 due to the COVID-19 pandemic, affecting 26,110 workers compared to 2019’s 10,690. But quarterly figures show that the number of retrenchments declined towards the end of 2020 and in the first quarter of 2021.
More details on the mandatory retrenchment notification can be found on the MOM website .
Continue reading...