Singapore retrenchments 2026: Amazon, Tiger Beer, Yeo’s, and more firms cut jobs amid rising energy costs and weak demand - Singapore News

20 May 2026, 22:30 · The Independent

SINGAPORE: Singapore’s retrenchment list for 2026 continues to grow and is no longer tied to a single sector. From beer brewing and drinks manufacturing to property and online retail, firms in Singapore are cutting jobs, shrinking teams, or moving parts of their operations elsewhere as costs climb and demand stays uneven.

The pressure is building from several directions at once as energy costs remain elevated, consumer spending has weakened, and uncertainty linked to the war in Iran has made planning harder for businesses.

A recent Singapore National Employers Federation (SNEF) survey found that 96% of companies said higher energy prices had increased operating costs, Vulcan Post reported (May 13), signalling to workers that even established names are making difficult choices.

Amazon

Even global tech firms are making local changes, with Amazon joining the list in May. The company announced role reductions in Singapore while redirecting its focus to expanding its international store offerings for local shoppers.

As part of the move, Amazon is winding down local fulfilment operations, including Amazon Fresh and its grocery partner network. It said sellers and vendors are being supported through alternative arrangements, a change that comes amid a consumer-led shift in how customers in Singapore shop, with growing interest in products shipped from markets such as the United States, Japan, and Germany.

Yeo’s Yeo Hiap Seng

Yeo Hiap Seng, better known as Yeo’s, also announced retrenchments in March. Twenty-five employees at its Senoko facility were affected as the company moved its can production into Malaysia. Yeo’s said the change allows better use of manufacturing capacity across its network.

Its Senoko location will remain the company’s headquarters and continue to support logistics and selected production functions, following earlier workforce cuts linked to changing buying habits, cost pressures and operational shifts.

Tiger Beer’s Asia Pacific Breweries Singapore

One of the biggest moves came from Asia Pacific Breweries Singapore (APBS), the company behind Tiger Beer. In March, APBS announced plans to reduce brewing activity at its Tuas plant and move production to regional sites in Malaysia and Vietnam by the end of 2027. Around 130 jobs are expected to be affected.

The company said the Singapore site will not disappear but shift towards regional logistics, innovation work and a pilot brewery setup. The move follows an earlier restructuring exercise in late 2023.

PropertyLimBrothers

Property agency PropertyLimBrothers entered a period of internal change after leadership issues became public earlier this year. Its media division laid off some staff in April while parts of the business were reorganised.

The company changes came after online speculation involving company leadership gained public attention, which was followed by leadership exits, and the firm later introduced a whistle-blowing channel as part of governance changes.

JLL (Real Estate)

Elsewhere, global real estate consultancy JLL also reduced its headcount in Singapore in April as part of an organisational restructuring.

The company said the changes were tied to long-term positioning as the real estate market adjusts to changing conditions, although it didn’t state how many employees were affected.

Layoffs must be communicated to workers in advance

Usually, layoffs are treated as isolated company news, but this year’s pattern suggests something more far-reaching as manufacturing firms are moving production closer to lower-cost locations.

Property businesses are tightening operations, and large tech firms are reallocating resources rather than pursuing local expansion. Singapore has been through cycles like this before; what stands out now is how many sectors are adjusting simultaneously.

For workers, company restructuring is becoming the norm as businesses reshape themselves amid current economic conditions. Nevertheless, it must be communicated to workers in advance when such major changes are coming.

Staff cannot control market conditions, but better early notice, support, and retraining give people a fairer chance to move forward instead of being caught off guard.

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