Tripartite Upturn Strategy teams formed to help companies tackle downturn
By S Ramesh, Channel NewsAsia | Posted: 29 April 2009 2043 hrs
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SINGAPORE : Manpower Minister Gan Kim Yong announced the setting up of Tripartite Upturn Strategy Teams (TRUST Teams) to help companies tackle the global downturn at the May Day awards on Wednesday evening.
The minister said by the end of last month, more than 77,000 workers and 1,100 companies have committed to the Skills Programme for Upgrading and Resilience (SPUR).
But the ministry continues to keep its finger on the pulse of the economy.
"The recent outbreak of the Mexican swine influenza will add to the outlook. How severe is the impact, how deep will this recession be and how long it will last, it is still too early to tell. Retrenchments in the first quarter of 2009 is likely to exceed 10,000 - higher than in the fourth quarter of 2008. The labour market will remain weak for quite some time," said Mr Gan.
Presenting the May Day Awards to 55 individuals and companies was labour chief Lim Swee Say.
Temasek Holding's outgoing CEO, Ho Ching was awarded the Medal of Commendation - Gold for her contributions to the labour movement and promoting harmonious labour-management relations.
Receiving the same award was Wing Tai's Senior Advisor, James Lee - who is a strong supporter of NTUC's social enterprises and served on the Council of the Singapore National Employers Federation (SNEF) for many years.
Two companies GlaxoSmithKline and Shimano Singapore received the Plaque of Commendation - Gold.
Also present at the dinner was Prime Minister Lee Hsien Loong, Cabinet ministers, MPs and tripartite partners. - CNA /ls
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