ST Explains: Why are tech companies in S’pore laying off people, and is it going to stop?

Quick Summary:

The once-booming tech sector here has been hit hard by lay-offs in recent months.

SINGAPORE – The once-booming tech sector in Singapore has been hit hard by lay-offs in recent months, with some of the biggest names in the business axing jobs left, right and centre.

Readings above 50 reflect growth while those below represent contraction.“While it is hard to say if the net hiring and retrenchments will result in an overall increase in headcount for tech companies, we are fairly certain that the median wages will be increasing,” said Mr Liew.

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Article Details

Category: EconomyBusiness

Markets: SingaporeIndiaPhilippinesThailandVietnam

Topics: Tech Singapore Stop Companies Continue Jobs Been Noted People Going Modak

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-16 @ 15:56:23 (8 hours ago)

News Timezone: GMT +8:00

News Source URL: straitstimes.com

Language: English

Article Length: 1253 words

Reading Time: 7 minutes read

Sentences: 51 lines

Sentence Length: 25 words per sentence (average)

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Copyright Owner: © The Straits Times

News ID: 23085385

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