Despite the uncertain global economic environment, most respondents said they would hold off on workforce changes, hoping the government would delay policy moves that could add further cost pressures. Others implemented measures including hiring freezes, delayed expansion plans, staff redeployment and headcount reduction through natural attrition.
(April 20): Singapore companies are exploring adjustments as rising energy prices begin to bite and concerns over labor costs mount.
About 96% of respondents said they faced higher operating costs and more than half are worried about rising manpower expenses, according to a snap poll by the Singapore National Employers Federation released on Monday. The survey, conducted from April 10 to 16, also highlighted a knock-on-effect from higher costs for raw materials, supplies and logistics.
