Businesses in Indonesia worry about impact of new mandatory pension program
The proposed regulation mandates that all companies, regardless of size, contribute a set percentage of employees' salaries to a government-managed pension fund.
Ministry of Manpower
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Singapore’s economic transformation: A triumph in adversity
Central to Singapore's approach is its tripartite collaboration model, uniting the Ministry of Manpower, National Trades Union Congress, and Singapore National Employers Federation.
Singapore witnesses escalation in retrenchments, 2023 figures double the tally of previous year
As per the data, the number of retrenchments in the year 2023 skyrocketed to 14,320, a stark contrast to the 6,440 recorded in the preceding year. This substantial increase points to the economic challenges and uncertainties that have been exacerbated by global events and disruptions.