Singapore Layoffs Hit 6-Year High in Q3 2026 With 4,800 Job Cuts

Singapore recorded nearly 4,800 job cuts in the third quarter of 2026, marking its highest quarterly retrenchment level since the COVID-19 pandemic period in late 2020. Official data from the Ministry of Manpower (MOM) shows that business reorganisation remains the primary driver behind these reductions, affecting outward-oriented sectors such as information and communications, financial services, and manufacturing. Despite these layoffs, overall total employment in Singapore expanded by 27,700 during the same period, supported by non-resident gains in construction and manufacturing alongside resident employment growth in public services.

Key Figures from the Q3 2026 Labour Market Advance Release

• Total Retrenchments (Q3 2026): 4,800 job cuts, up approximately 3.9% from 4,620 in Q2 2026.
• Total Employment Growth: Overall employment grew by 27,700 between July and September 2026.
• Unemployment Rates (September 2026): Overall rate remained steady at 2.0%, while resident and citizen rates ticked up slightly to 3.0% and 3.1%, respectively.
• Employer Expectations: Companies anticipating hiring rose from 30.5% in August to 42.3% in September 2026, while those expecting retrenchments increased marginally from 2.8% to 3.1%.

Affected Sectors and Business Sentiment

Official government releases indicate that elevated job losses remain concentrated in selected outward-facing industries, though exact sector-specific breakdowns for Q3 2026 were not individually itemized in the advance release. Concurrently, business indicators point to mixed employer sentiment. While hiring and wage expectations improved heading into September 2026, overall sentiment remains cautious amid global economic uncertainties. There is no official confirmation or evidence suggesting that these near-term employer expectations will lead to broader, large-scale layoffs, nor are there official Indian government reports confirming direct impacts on employment trends in India.