Suntec Singapore Convention and Exhibition Centre (or Suntec Singapore) carried out a retrenchment exercise after a slew of cost-cutting measures were implemented to cope with the ailing industry badly hit by the Covid-19 pandemic.
About 85 of their employees were retrenched, of which 60 were locals and 25 were non-locals.
Their current workforce stands at 149 locals and 29 non-locals.
The management of Suntec has also taken a 40% pay cut.
Suntec Singapore said that they will maintain a core of 96% locals.
The Chief Executive Officer of Suntec Singapore, Mr Arun Madhok, said that the decision was not taken lightly and isn’t reflective of any staff performances, and that he is “truly sorry” to have to let these staff go.
Affected retrenchees will receive a severance payment of a month’s salary for every year of service, according to the collective agreement signed with the Building Construction and Timber Industries Employees’ Union (BATU).
Eligible employees will also receive their pro-rated Annual Wage Supplement for the year and encase their remaining leave entitlements.
The NTUC Job Security Counsil (JSC) will also assist them in finding jobs that are suitable for them, with at least two job opportunities to be matched for every employee.
Suntec Singapore also gave BATU a one-off training grant of S$25,000 to help the affected union members to upskill and/or reskill themselves.
NTUC Secretary General Ng Chee Meng also weighed in.