Singapore retrenchments climb to 4,800 in Q3 2026

Singapore’s third-quarter retrenchments reached 4,800 in 2026, rising 3.9 per cent from the preceding quarter’s 4,620, the Ministry of Manpower (MOM) reported on 30 October. The preliminary figures put layoffs at their highest level since late 2020.

Despite the increase, retrenchment incidence stayed at 2.0 per 1,000 employees. MOM identified business reorganisation as the leading reason for job cuts. It said layoffs were still elevated in some outward-oriented industries, including manufacturing, financial services, and information and communications.

Employment expanded by 27,700, compared with gains of 11,400 a quarter earlier and 25,100 a year earlier. Growth accelerated among residents and non-residents alike, although non-residents accounted for the larger share. Essential and public services were the main support for resident employment growth; construction and manufacturing were among the principal contributors for non-residents.

The September unemployment figures showed no change in the overall rate, at 2.0 per cent. For residents, the rate increased from August’s 2.9 per cent to 3.0 per cent, while the citizen rate moved from 3.0 per cent to 3.1 per cent.

MOM’s September poll found that 42.3 per cent of firms anticipated hiring within three months, against 30.5 per cent in August. The share planning wage increases reached 19.9 per cent, compared with 16.9 per cent. Both readings were lower than July’s, which the ministry said suggested employers remained cautious amid economic uncertainty.

Firms anticipating retrenchments made up 3.1 per cent of respondents, versus 2.8 per cent in August. MOM said that rise and the increase in actual layoffs signalled weaknesses in parts of an otherwise expanding labour market. More detailed third-quarter data will be published in mid-December 2026.