CapitaLand Investment Implements Workforce Reduction in Singapore
In a significant move, CapitaLand Investment (CLI) has announced a downsizing that will impact approximately 90 employees in Singapore, representing roughly 4% of its local workforce. This decision aligns with the company’s ongoing strategy to periodically assess and adjust its organizational structure to remain responsive to business needs.
Currently employing around 2,200 individuals within the city-state, CLI is primarily based at its Capital Tower office. The decision to downsize comes as part of a broader restructuring effort aimed at ensuring long-term viability and alignment with strategic priorities.
CLI’s management has stated that they are committed to transparency throughout this process. The Singapore Industrial and Services Employees’ Union has been actively involved in discussions regarding the workforce changes, which emphasizes fair treatment for those affected. The union plays a crucial role in advocating for employee interests, thus helping ensure that severance packages are equitable and consistent with established collective agreements.
The firm is also exploring redeployment options where feasible, aiming to support staff members through these transitions. This approach reflects CLI’s recognition of the importance of employee retention and welfare even amidst necessary structural adjustments.
According to CLI’s recent global sustainability report, local employees make up approximately 77% of their workforce in Singapore. Notably, over 48% of these local workers hold managerial or senior roles, underscoring the company’s commitment to fostering leadership from within its ranks.
Despite these layoffs, CLI has reported a relatively stable turnover rate of 24% across its global workforce exceeding 9,500 employees. It’s noteworthy that there have been no major layoffs previously recorded by the firm since it was listed and headquartered in Singapore back in 2021.
As part of its growth strategy, CLI is actively seeking new talent. As of now, their website features over 60 job openings and internships available locally across various sectors including operations and property management. This indicates an ongoing need for skilled professionals despite recent reductions.
The company is also looking towards strategic divestments to enhance growth prospects. Recently, chief executive Lee Chee Koon mentioned considerations around divesting a stake in The Ascott Limited—a key player in their hospitality segment—as part of their efforts to streamline operations.
For potential investors or job seekers interested in opportunities at CLI or wanting more insights into real estate trends across Southeast Asia, resources can be found on Thomson Reserve.
Source: Original Article
In a significant move, CapitaLand Investment (CLI) has announced a downsizing that will impact approximately 90 employees in Singapore, representing roughly 4% of its local workforce. This decision aligns with the company’s ongoing strategy to periodically assess and adjust its organizational structure to remain responsive to business needs.
Currently employing around 2,200 individuals within the city-state, CLI is primarily based at its Capital Tower office. The decision to downsize comes as part of a broader restructuring effort aimed at ensuring long-term viability and alignment with strategic priorities.
CLI’s management has stated that they are committed to transparency throughout this process. The Singapore Industrial and Services Employees’ Union has been actively involved in discussions regarding the workforce changes, which emphasizes fair treatment for those affected. The union plays a crucial role in advocating for employee interests, thus helping ensure that severance packages are equitable and consistent with established collective agreements.
The firm is also exploring redeployment options where feasible, aiming to support staff members through these transitions. This approach reflects CLI’s recognition of the importance of employee retention and welfare even amidst necessary structural adjustments.
According to CLI’s recent global sustainability report, local employees make up approximately 77% of their workforce in Singapore. Notably, over 48% of these local workers hold managerial or senior roles, underscoring the company’s commitment to fostering leadership from within its ranks.
Despite these layoffs, CLI has reported a relatively stable turnover rate of 24% across its global workforce exceeding 9,500 employees. It’s noteworthy that there have been no major layoffs previously recorded by the firm since it was listed and headquartered in Singapore back in 2021.
As part of its growth strategy, CLI is actively seeking new talent. As of now, their website features over 60 job openings and internships available locally across various sectors including operations and property management. This indicates an ongoing need for skilled professionals despite recent reductions.
The company is also looking towards strategic divestments to enhance growth prospects. Recently, chief executive Lee Chee Koon mentioned considerations around divesting a stake in The Ascott Limited—a key player in their hospitality segment—as part of their efforts to streamline operations.
For potential investors or job seekers interested in opportunities at CLI or wanting more insights into real estate trends across Southeast Asia, resources can be found on Thomson Reserve.
Source: Original Article