CGTN
July 24, 2023
Singapore has felt the impact of the recent spate of lay-offs in the tech sector. Employees have been hit on two fronts, retrenchments from global giants like Google, and from regional heavyweights, like Shopee. But despite the cutbacks, niche skills in areas such as AI and cybersecurity remain in high demand within the tech industry. CGTN's Miro Lu reports.
Singapore authorities say that tech companies slashed 1,270 jobs between July and November last year. Recruiters estimate that another 1,000 job cuts took place in the first quarter this year.
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Beyond layoffs, recruiters say companies could look at remote hiring as a cost cutting strategy.
ETHAN ANG Co-Founder, Nodeflair "In the past it is all about assembling in one location, but right now if you start to think and COVID has really accelerated that thinking that talent are everywhere in the world, you don't have to just compete with talent here in Singapore, companies can basically tap into a global talent pool at much lower cost and still achieve the product dream."
