Singapore expects job cuts in first quarter
Singapore - Singapore is expecting more job cuts in the first quarter of next year, according to a survey reported by the Straits Times Tuesday.
About half of the 629 bosses surveyed intend to cut jobs in the first three months of 2009, compared to 10 per cent who were polled on staff cuts between October and December this year.
The jobs cuts will be through retrenchments, not replacing staff who leave, and freezing hiring plans, it said, citing the survey by global human resource consultancy Manpower Inc, which had polled the 629 employers in Singapore.
The survey showed that 46 per cent of the bosses polled were expected to cut jobs while only 8 per cent intended to recruit.
The dismal job market is due to Singapore's open economy, which is severely affected by the global financial crisis, Philippe Capsie, country manager at Manpower, was quoted as saying. (dpa)