According to a survey conducted by the Singapore National Employers Federation (SNEF), more than half of employers plan to halt new hiring. The findings indicate growing caution across businesses confronting economic uncertainty and rising operational costs. In addition to pausing recruitment, a majority of participating firms anticipate wage freezes or wage moderation, shifting their operational focus toward cost containment, resource optimization, and productivity improvements rather than workforce expansion.
- A survey by the Singapore National Employers Federation (SNEF) indicates that more than half of employers plan to freeze recruitment.
- A majority of surveyed businesses also expect either wage freezes or moderated salary increments.
- The slowdown in hiring reflects ongoing macroeconomic headwinds and elevated business expenses.
- Companies are prioritizing productivity enhancements and optimizing existing staff rather than expanding headcount.
Based in Singapore, CNA (Channel News Asia) covers global developments with an Asian perspective, with correspondents based in major cities across Asia, including Kuala Lumpur, Jakarta, Bangkok, Tokyo, Seoul and Beijing, as well as in New York, Washington D.C. and London.
Official website: https://www.channelnewsasia.com/
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