HR Minister warns Malaysians of Singapore job loss

As Singapore slips into a technical recession after registering two straight quarters of economic negative growth, Malaysian human resource minister S Subramaniam has warned Malaysians working in the island republic to be prepared should they lose their jobs. This is the report in thestar online today:

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The story continued:

“They need to work on retraining and acquiring new skills to ensure they have jobs during such times.”

He said that Malaysians accounted for about 30% of the foreign workforce in Singapore.

Dr Subramaniam said that many of the Malaysian workers in Singapore were unskilled and employed in the manufacturing sector.

Asked about whether the ministry had a contingency plan for such a situation in Malaysia, he said that Malaysia would have excess job vacancies as work presently being done by foreigners could be offered to locals instead.

According to economic data released by Singapore’s Ministry of Trade and Industry, the island republic will be the first Asian economy to fall into a technical recession.

A technical recession is generally defined as two consecutive quarters of contraction in economic output.

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