14K+ jobs cut, with PMETs hit hard

MOM’s Labour Market Report outlines the latest retrenchment figures and wider employment trends in Singapore

Singapore recorded a notable rise in retrenchments in 2025, with overall job cuts climbing to 14,490 for the year—an increase from 12,930 retrenchments in 2024.

On Mar 20, the Ministry of Manpower (MOM) released its latest quarterly Labour Market Report, revealing updated figures on retrenchments and broader employment trends.

The data showed that the incidence of retrenchment rose to 6.3 per 1,000 employees, up from 5.9 per 1,000 the year before.

And within this broader trend, white-collar workers have experienced disproportionate pressure.

PMETs are increasingly on the chopping block

Professional, managerial, executive, and technician (PMET) retrenchments have shown a steeper incline compared to the overall workforce.

In 2025, the incidence of retrenchment for this group rose to 10.1 per 1,000 resident PMETs—above the pre-recessionary average—from 8.6 per 1,000 in 2024.

The layoffs have been largely concentrated in three sectors:

• Financial Services: Banking and insurance firms have cut headcount as market conditions tighten
• Information and Communications: Tech and telecom companies are restructuring in response to changing demands
• Professional Services: Consulting, legal, and accounting firms have undergone notable workforce adjustments

For this specific labour market report, MOM examined trends in PMET roles to assess concerns around AI-driven job disruptions.

While the evidence does not point conclusively to broad-based displacement, there are signs of restructuring that warrant continued monitoring.

Total employment continued to grow

If you’re working in a PMET role, these trends may naturally raise concerns. However, the broader data suggest that this is not necessarily a contraction in demand for these jobs.

The same sectors that saw the highest PMET layoffs also had relatively high PMET job vacancies in Dec 2025, with a combined total of 14,600, up from 13,900 in the year-ago period.

According to MOM, the overlap between higher retrenchments and higher PMET vacancies in these sectors suggests ongoing restructuring and skills transition, where some jobs are being displaced as firms restructure, while hiring continues for others.

For the full year of 2025, total employment grew by 55,500, up from 44,500 in 2024. Of this, resident employment grew by 11,600, driven largely by financial services as well as health and social services.

In 2026, resident employment is expected to grow at a similar or slightly slower pace, said MOM.

• Read more articles we’ve written on Singapore’s job trends here.

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