Technology firms here reported 1,270 layoffs of resident workers from July to mid-November, reports The Straits Times, citing a statement by Manpower Minister Tan See Leng. The 1,270 figure is almost five times the 260 resident workers, comprising Singaporeans and permanent residents (PRs,), laid off in the first half of 2022. Leng provided the figures in response to questions filed by nine MPs on retrenchment figures in the sector, the profile of affected workers and the support provided to them. There have been a series of layoffs from tech companies in Singapore, such as social media giant Meta and conglomerate GoTo, due to global economic headwinds and flagging investor confidence in the sector. Of the 1,270 retrenched workers, Leng said around eight in ten worked in non-tech roles such as sales and marketing, while seven in ten were aged 35 and below, which is consistent with the low median age of employed residents in the information and communications sector.

Leng added that those retrenched from tech roles in tech firms generally have been able to find a new job much faster than peers retrenched from non-tech roles.