Layoffs have come into the spotlight again recently, after e-commerce giant Lazada axed an undisclosed number of employees in Singapore at the start of the year. It has since apologised for not informing the relevant union about the retrenchment exercise in advance.

But have you ever wondered if there’s such a thing as responsible retrenchment, and how retrenchment exercises should be carried out?

On this episode of Morning Shot, Patrick Tay, Assistant Secretary-General of NTUC shares his insights.

Download the podcast here: https://www.moneyfm893.sg/guest/patri...

For more, tune in to #Breakfast with Ryan Huang, Emaad Akhtar and Audrey Siek every weekday from 6am-9am. Tune in to MONEY FM 89.3 via the Awedio app today! Available on the App Store, Google Play and more.

0:00 Patrick Tay
0:51 Responsible retrenchment
1:35 Steps company should take before a retrenchment exercise
3:47 Retrenchment benchmark
6:03 Tripartite Advisory
7:30 Job Fairs
9:13 Company’s support the retrenched
10:17 TikTok @patricktgtay, Dark Avenger

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