News analysis

Enduring short-term pain to protect jobs in the long term

The resident unemployment rate rose to 4.5 per cent in August. ST PHOTO: KUA CHEE SIONG
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Less than seven months back, the National Wages Council (NWC) had recommended that employers affected by the Covid-19 pandemic first reduce non-wage costs and tap government help before they move to cut their workers' wages.

Yesterday, the council signalled that companies could cut their employees' wages temporarily in order to minimise retrenchments.

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A version of this article appeared in the print edition of The Straits Times on October 17, 2020, with the headline Enduring short-term pain to protect jobs in the long term. Subscribe