<TABLE cellSpacing=0 cellPadding=0 width="100%" border=0><TBODY><TR>Jan 10, 2009
S'pore's economy weakens
</TR><!-- headline one : start --><TR>More challenging times <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Shuli Sudderuddin
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Mr Gan's (picture left)comments are just one of the governments' many messages on how they will help people through this period. --ST PHOTO: LAU FOOK KONG
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<!-- START OF : div id="storytext"-->THE first two quarters of this year are likely to be more challenging as the economy continues to weaken and the labour market soften.
This is why retrenchment may pick up after the Chinese New Year, said Acting Manpower Minister Gan Kim Yong on Saturday.
However, he assured workers that the government has put in place measures to help them.
Retrenchment has been on the rise with a total of 3,773 unionised workers laid off last year. 15,000 unionised workers have been told to go on a shorter work as of 4th January.
The number of Professionals, Managers, Executives and Technicians (PMETs) affected is also on the rise.
It is predicted that there will be over 30,000 retrenchments during this financial crisis. Mr Gan's comments are just one of the governments' many messages on how they will help people through this period.
S'pore's economy weakens
</TR><!-- headline one : start --><TR>More challenging times <!--10 min-->
</TR><!-- headline one : end --><!-- Author --><TR><TD class="padlrt8 georgia11 darkgrey bold" colSpan=2>By Shuli Sudderuddin
</TD></TR><!-- show image if available --><TR vAlign=bottom><TD width=330>
</TD><TD width=10>
Mr Gan's (picture left)comments are just one of the governments' many messages on how they will help people through this period. --ST PHOTO: LAU FOOK KONG
</TD></TR></TBODY></TABLE>
<!-- START OF : div id="storytext"-->THE first two quarters of this year are likely to be more challenging as the economy continues to weaken and the labour market soften.
This is why retrenchment may pick up after the Chinese New Year, said Acting Manpower Minister Gan Kim Yong on Saturday.
However, he assured workers that the government has put in place measures to help them.
Retrenchment has been on the rise with a total of 3,773 unionised workers laid off last year. 15,000 unionised workers have been told to go on a shorter work as of 4th January.
The number of Professionals, Managers, Executives and Technicians (PMETs) affected is also on the rise.
It is predicted that there will be over 30,000 retrenchments during this financial crisis. Mr Gan's comments are just one of the governments' many messages on how they will help people through this period.
