Retrenchments hit five-year high!
KUALA LUMPUR, March 18 — The highest number of retrenchments within a five-year span was recorded last year, according to the Human Resources Ministry, with 38,499 layoffs across all sectors.
In a written reply to Tan Kok Wai (DAP-Cheras), the ministry said the manufacturing sector had the highest number of retrenchments over the last three years.
The highest number of retrenchments was recorded in 2007 (42,336), 2008 (47,145) and 2009 (64,516).
It said retrenchments could be categorised into ordinary layoffs and through the voluntary separation scheme (VSS).
Workers who are laid off will be paid according to the Employment Act 1955 or their collective agreement, the statement said.
Tan had asked the ministry to provide a breakdown of the number of workers retrenched by the various sectors in the last three years, following the economic downturn and oversupply of workers and its strategies to amend the nation’s human resources policy.
In January this year, 5,009 workers were retrenched compared to November (9,986) and December (5,758) last year.
The reduction in the number of layoffs shows the economy is getting stronger compared to the previous year although the current impact of the economic downturn is in its early stages, it added.
READ MORE: https://sg.news.yahoo.com/retrenchments-hit-five-high-says-ministry-234400948.html
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asked on Mar 18, 2016 at 14:32
edited on Mar 30, 2016 at 02:38
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