Morning Shot: Is there such a thing as responsible retrenchment?

Layoffs have come into the spotlight again recently, after e-commerce giant Lazada axed an undisclosed number of employees in Singapore at the start of the year. It has since apologised for not informing the relevant union about the retrenchment exercise in advance. But have you ever wondered if there’s such a thing as responsible retrenchment, and how retrenchment exercises should be carried out? On this episode of Morning Shot, Patrick Tay, Assistant Secretary-General of NTUC shares his insights. Download the podcast here: https://www.moneyfm893.sg/guest/patrick-tay-ntuc/ For more, tune in to #Breakfast with Ryan Huang, Emaad Akhtar and Audrey Siek every weekday from 6am-9am. Tune in to MONEY FM 89.3 via the Awedio app today! Available on the App Store, Google Play and more. 0:00 Patrick Tay 0:51 Responsible retrenchment 1:35 Steps company should take before a retrenchment exercise 3:47 Retrenchment benchmark 6:03 Tripartite Advisory 7:30 Job Fairs 9:13 Company’s support the retrenched 10:17 TikTok @patricktgtay, Dark Avenger -- Connect with Us! Telegram: MONEY FM 89.3 Facebook: MONEY FM 89.3 LinkedIn: MONEY FM 89.3 Instagram: @moneyfm893 TikTok: @moneyfm893 X: @moneyfm893 Threads: @moneyfm893 -- Contact us: MONEY FM 89.3 Headquarters: +65 6319 1900 Live Studio: +65 6691 1893 SMS/WhatsApp MONEY FM 89.3: +65 8855 0893 Mailing Address: SPH Media Limited 1000 Toa Payoh North News Centre Singapore 318994