Employment
The first half of 2024 has been marked by mass retrenchment exercises by major companies in the technology and finance sectors worldwide. The same has been observed in Singapore, although the layoffs have occurred in the wholesale trade and electronics manufacturing space as well.
There has also emerged a TikTok trend of Gen Z employees filming and posting videos of them reacting to being laid off over video call. Such videos can sometimes obtain millions of views. This viral TikTok trend demonstrates that an increasing number of younger employees are not afraid of speaking up against what they perceive to be unfair practices in the workplace – and seeking to hold their employers liable by harnessing the effect of social media. Companies who are shown to be unempathetic to employees may struggle to attract top talent in future, and at the very least, may face a period of intense public backlash and scrutiny.
