Less jobs in Singapore as firms rely on fewer staff members
The stricter foreign worker policies are making businesses change the way they work. This may finally be making an impact through the wider economy in Asia, with companies relying less on manpower and restructuring their processes accordingly in order to cope.
Managers stated that the lack of manpower results in businesses having trouble filling vacancies and are unable to start contract for new employees. The current lull in the job market was shown in last week’s labour market report; figures shrank by 6,100 Singapore vacancies in the first three months of 2015.
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