Singapore Firms Feel Energy Cost Squeeze, Most Hold Off Job Cuts

Singapore companies are exploring adjustments as rising energy prices begin to bite and concerns over labor costs mount.

About 96% of respondents said they faced higher operating costs and more than half are worried about rising manpower expenses, according to a snap poll by the Singapore National Employers Federation released on Monday. The survey, conducted from April 10 to 16, also highlighted a knock-on-effect from higher costs for raw materials, supplies and logistics.