Singapore has experienced layoffs in the global tech industry since 2022, with companies like Carousell and Shopee cutting jobs.
However, the nation continues to invest heavily in tech skills, hiring and cultivating talent in both tech and non-tech sectors.
The Infocomm Media Development Authority (IMDA) highlights that the demand for specialized tech talent extends beyond the tech sector, encompassing industries such as finance, manufacturing, logistics, and professional services.
Banks like OCBC, DBS, and UOB have developed programs to train technology staff and prepare students for the tech industry.
OCBC, for example, announced plans in 2022 to hire 1,500 tech employees within three years.
STLogistics has also invested SGD 1.7 million ($1.2 million) to encourage employees to learn digital skills like software robotics.
Demand for tech talent is expected to remain strong as Singapore’s economy continues to digitalize.
