SINGAPORE: Yeo Hiap Seng (Yeo’s) announced on Tuesday (Mar 31) that 25 employees will be laid off due to a “consolidation of can manufacturing to Malaysia”.
“This consolidation enables the Group’s Johor and Selangor facilities to optimise capacity utilisation and strengthen overall manufacturing efficiency across its network,” said the food and beverage company in a media statement.
Yeo's said its Senoko facility will continue to serve as its headquarters, cross-border logistics hub and smaller-scale manufacturing centre.
“Yeo’s is fully committed to helping affected employees with job placement assistance, career guidance and counselling support,” it said, adding that opportunities for open roles in Malaysia will be offered to them whenever possible.
The company said it worked closely with the Food, Drinks and Allied Workers Union to ensure that the retrenchment package and transition support “reflect appreciation for the contributions of affected staff”.
Affected employees will receive retrenchment benefits, agreed with the Union and in line with the Ministry of Manpower’s Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment, it said.
“These benefits will be commensurate with each employee’s salary and years of service.”
The SGX-listed company reported a higher net profit of S$21.1 million for the financial year ending Dec 31, 2025, up from S$6.9 million the previous year.
Group revenue and core food and beverage revenue declined, which Yeo's said reflected weaker consumer spending and intensified competition across key markets.
Yeo's last laid off 25 workers in December 2024 after Swedish drink company Oatly decided to close its plant in Singapore. Those employees had been hired specifically to support Oatly's production.
In 2022, Yeo's axed 32 workers, representing less than 2 per cent of its 1,900-strong workforce at the time. The company cited changing consumer patterns and retail conditions on top of increasing cost pressures.
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“This consolidation enables the Group’s Johor and Selangor facilities to optimise capacity utilisation and strengthen overall manufacturing efficiency across its network,” said the food and beverage company in a media statement.
Yeo's said its Senoko facility will continue to serve as its headquarters, cross-border logistics hub and smaller-scale manufacturing centre.
“Yeo’s is fully committed to helping affected employees with job placement assistance, career guidance and counselling support,” it said, adding that opportunities for open roles in Malaysia will be offered to them whenever possible.
The company said it worked closely with the Food, Drinks and Allied Workers Union to ensure that the retrenchment package and transition support “reflect appreciation for the contributions of affected staff”.
Affected employees will receive retrenchment benefits, agreed with the Union and in line with the Ministry of Manpower’s Tripartite Advisory on Managing Excess Manpower and Responsible Retrenchment, it said.
“These benefits will be commensurate with each employee’s salary and years of service.”
The SGX-listed company reported a higher net profit of S$21.1 million for the financial year ending Dec 31, 2025, up from S$6.9 million the previous year.
Group revenue and core food and beverage revenue declined, which Yeo's said reflected weaker consumer spending and intensified competition across key markets.
Yeo's last laid off 25 workers in December 2024 after Swedish drink company Oatly decided to close its plant in Singapore. Those employees had been hired specifically to support Oatly's production.
In 2022, Yeo's axed 32 workers, representing less than 2 per cent of its 1,900-strong workforce at the time. The company cited changing consumer patterns and retail conditions on top of increasing cost pressures.
Continue reading...