Reviewing the year 2015
Singapore employment market
Looking back this year, one of the most drastic changes in the employment market was manpower downsizing by global megabanks.
This month, Standard Chartered bank has axed at least 6 oil and gas advisory banking roles, including 4 Singapore-based managing directors. (The Straits Times dated of Dec 15)
Standard Chartered's new CEO Bill Winteres has announced in the last month, to cut off 15,000 jobs globally. The bank plans to move away from depending on advisory fees.
Massive lay-off has been seen in banking industry through this year.
Not only Standard Chartered, but also HSBC Bank, Rabobank and JP Morgan are being affected.
Some reports say that major banks in Europe and the United States has shed close to 100,000 jobs this year.
Focusing on the domestic employment market in Singapore, we are aware that more talents who are familiar with digital skills are in high demand.
As The Ministry of Manpower pushes to restrict foreigners, employers find it difficult to renew employment passes for higher salaried roles who are on S Pass or EP.
I found the interesting article "Singapore's top 10 talent trends for 2016". Here is the link.