Singapore Records Highest Quarterly Layoffs Since 2020 as 4,800 Workers Lose Jobs: Growing Concerns Over Corporate Restructuring and Employment Security — Reuters (October 30, 2026)
Article Updated: October 30, 2026 · Based on MOM advance data
Singapore’s manpower ministry says 4,800 workers were retrenched in the third quarter of 2026, the highest since late 2020, driven by business reorganisation.
This report covers the numbers, the comparison with earlier quarters, the sectors involved, the employment growth that continues and what remains unknown.
1. What MOM reported
MOM released its advance labour market data on Friday, October 30, 2026. Reuters reports that layoffs rose to 4,800 in July to September from 4,620 in the previous quarter, the highest since the 5,640 recorded in the fourth quarter of 2020. The incidence of retrenchment stayed at 2.0 per 1,000 employees, according to Red Hot Singapore.
| Measure | Reported figure |
|---|---|
| Retrenchments, Q3 2026 | 4,800 |
| Retrenchments, Q2 2026 | 4,620 |
| Peak comparison | 5,640 in Q4 2020 |
| Retrenchment incidence | 2.0 per 1,000 employees |
| Firms expecting to retrench | 3.1% (from 2.8%) |
| Total employment growth, Q3 | +27,700 |
2. How it compares
The 4,800 total is 3.9% higher than the second quarter. For a year-earlier comparison, MOM’s final report for the third quarter of 2025 showed 3,670 retrenchments, according to Malay Mail. That makes the new figure about 31% higher, which is our arithmetic, though the 2026 number is an advance estimate and may be revised.
3. What is driving the layoffs
MOM said business reorganisation continued to be the main driver of retrenchments, which remained elevated in selected outward-oriented sectors. Red Hot Singapore lists information and communications, financial services and manufacturing as examples. In its words, as reported by Reuters, the ministry said elevated retrenchments and higher intentions to retrench point to emerging weaknesses in parts of the labour market that warrant close monitoring.
4. The other side: employment is still growing
Total employment grew by 27,700 in the third quarter, up from 11,400 in the second quarter and 25,100 a year earlier. Red Hot Singapore adds that resident employment growth was mainly supported by essential and public services, while non-resident growth came mainly from construction and manufacturing. In other words, jobs are being added in some areas even as they are cut in others.
5. Unemployment rates
The overall unemployment rate stayed at 2.0% in September. The resident rate rose to 3.0% from 2.9% in August, and the citizen rate rose to 3.1% from 3.0%. These are small moves, but they match MOM’s message that parts of the market are softening.
6. What it means for employment security
Our analysis: the data show a split labour market. Overall hiring and unemployment remain healthy, but reorganisations in export-facing sectors are producing the most layoffs since the pandemic, and more firms are planning cuts. Workers in sectors such as finance, information and communications, and manufacturing may face more uncertainty than the headline unemployment rate suggests.
This is general information, not career or financial advice. Employees affected by retrenchment may want to review their notice and severance terms and consider independent advice.
7. What is still unknown
The 2026 figures are advance estimates, and MOM will publish a fuller report later. The reports reviewed do not break down retrenchments by occupation, residency status or company, and they do not say whether the fourth quarter will be higher. We did not open MOM’s own release; figures come from Reuters, AsiaOne and Red Hot Singapore.
8. Related reading on USA Now Day
9. Frequently asked questions
1. How many workers were laid off in Singapore in Q3 2026?
4,800, according to the Ministry of Manpower’s advance labour market data, up from 4,620 in the second quarter.
2. Is this the highest since 2020?
Yes. It is the highest since the 5,640 retrenchments in the fourth quarter of 2020, during the COVID-19 pandemic.
3. What is driving the layoffs?
MOM says business reorganisation remains the main driver, with retrenchments elevated in selected outward-oriented sectors such as information and communications, financial services and manufacturing.
4. Is the job market shrinking?
No. Total employment grew by 27,700 in the third quarter, up from 11,400 in the second quarter and 25,100 a year earlier.
5. What happened to unemployment?
The overall rate stayed at 2.0% in September. Resident and citizen rates edged up to 3.0% and 3.1% from 2.9% and 3.0% in August.
6. Could the numbers change?
Yes. The 2026 figures are advance estimates. MOM’s advance estimates have been revised before, for example in 2020, so the final report may differ.
10. Conclusion
Singapore’s labour market is still creating jobs, but the 4,800 retrenchments in the third quarter are the most since 2020 and MOM itself says the trend warrants close monitoring. The numbers to follow next are the final third-quarter report, the share of firms planning cuts, and whether sector-level reorganisations continue into the fourth quarter.
11. Sources and references
- Reuters (Jun Yuan Yong) — Singapore third-quarter layoffs at highest level since 2020, October 30, 2026 (via Investing.com). Primary source for the 4,800 figure, the 5,640 comparison, unemployment rates and the 3.1% firms expecting to retrench.
Read the Reuters report ↗ - AsiaOne — Resident and citizen unemployment rates up slightly: MOM, October 30, 2026. Employment growth figures and MOM’s warning on labour market weaknesses.
Read the AsiaOne report ↗ - Red Hot Singapore — Retrenchments in Singapore inch up in Q3 2026. Sector detail and the 2.0 per 1,000 retrenchment incidence.
Read the Red Hot Singapore report ↗ - Malay Mail — Singapore job market tight as Q3 layoffs rise (December 12, 2025). Q3 2025 retrenchment figure of 3,670 for the year-earlier comparison.
Read the Malay Mail report ↗ - Malay Mail — Retrenchments in Singapore rose to 11,350 in the first half of 2020 (September 14, 2020). Example of an advance estimate being revised.
Read the 2020 Malay Mail report ↗