Hiring intentions among Singapore SMEs are weakening as geopolitical tensions, including disruptions linked to the Strait of Hormuz, weigh on business confidence. Companies are becoming more cautious in workforce expansion.
SME Hiring Slows as Hormuz Tensions Impact Confidence
The report found that firms are reassessing hiring plans due to rising costs, supply chain uncertainties, and external economic pressures. This has led to slower recruitment activity across several sectors.
Experts warn that prolonged uncertainty could further dampen hiring momentum, highlighting the need for businesses to adapt strategies and manage operational risks effectively.
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