BSL Bulletin

Guidelines and cost-saving measures to manage excess manpower

The Singapore Budget 2020 was announced in February. Given the fast-changing nature of the global economy, employers are looking to cut costs in daily operations. Payroll takes 30% to 50% of every dollar earned. Naturally, employers will be looking at cutting staff costs. We detail out options that most businesses can embark on when considering alternatives to retrenchment. Taking on a long-term business view to keeping your staff is important to business continuity, especially when times are tough.

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