Singaporeans upset over rising retrenchment rates with concurrent influx of foreign professionals

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Photo: YouTube screengrab

After Singapore’s labour market saw saw higher unemployment and more retrenchments in the second quarter of 2018, Singaporeans attribute much of it to the influx of foreigners – specifically, to Indian Professionals, Managers, Executives and Technicians (PMET).

As of June, the Ministry of Manpower (MOM) reported that there were 67,300 residents and 59,800 citizens unemployed. A number where the unemployed citizens almost matched the number of residents.

As a result, netizens took to Facebook to draw comparisons and to express their unhappiness at the situation.

The treachery of the CECA with India is one that bears reiterating – considering the continued trend of retrenchment…

Posted by The Alternative View on Monday, 17 September 2018

An infographic shared on Facebook page The Alternative View adds, “The treachery of the Comprehensive Economic Cooperation Agreement (CECA) with India is one that bears reiterating – considering the continued trend of retrenchment among the S’porean workforce and the prevalence of discriminatory hiring in many MNCs and banks such as Standard Chartered and BNP.”

According to its website, CECA covers tariff reduction or elimination for 82% of Singapore’s domestic exports. The 2nd protocol (upgraded CECA) reduces/eliminates tariffs for an additional 30 products.

Netizens also gripe that under CECA, there is also a list of 127 professions, under which companies can hire Indian Nationals as long as they classify the jobs as Intra-Corporate Transfers.
http://www.commonlii.org/sg/other/treaties/2005/1/INSFTA-Annex-9A.html

In specific, Singaporeans feel that many banks and MNCs have followed a trend of hiring foreign nationals instead of Singaporeans.

However, there were those of the opinions that Singaporeans were just too picky when it came to jobs.

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obbana@theindependent.sg