Singapore’s bank workers may see more job losses amid recession, regulator says

Singapore’s financial-services sector, which accounts for 4.5 per cent of total employment, may see more job losses during the second half of the year as the country goes through its worst recession ever, the central bank warned on Wednesday. Banks, insurers and other financial institutions held up well during the first six months when the sector created about 1,500 jobs and retrenchment levels stayed “subdued”, the Monetary Authority of Singapore said. Locals snapped up three out of every four…

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