This article is researched and written in collaboration with a Group HR Director at a Malaysian telecommunications MNC with over 20 years of regional HR experience across Malaysia and Singapore.

When Petronas announced plans to retrench 5,000 employees—10% of its workforce—in February 2025, it sent shockwaves across Malaysia’s corporate landscape. But this wasn’t an isolated incident. From TikTok’s 481 layoffs in Malaysia to Lazada’s cuts across Singapore, we’re witnessing a strategic workforce realignment that demands both HR leaders and employees to rethink their approach to career resilience.

After two decades in HR across Singapore and Malaysia, I’ve seen economic downturns come and go. This current wave feels different—less about financial desperation, more about strategic positioning for the future. The unemployment rates tell a story of resilience: Singapore maintains 1.8% unemployment while Malaysia sits at a decade-low 3.1%. Yet layoffs are happening across sectors, driven by digital transformation, AI automation, and post-pandemic workforce corrections.

The numbers behind the headlines

Singapore recorded 12,930 layoffs in 2024, actually down from 14,590 in 2023, according to Ministry of Manpower data. Malaysia’s Department of Statistics shows a different picture—while overall employment remains strong, specific sectors like technology and manufacturing are under pressure. Local tech companies including TikTok and Lazada have implemented significant workforce reductions, reflecting global industry trends where over 141,000 tech layoffs occurred worldwide in 2024.

The manner of these layoffs reveals how unprepared many employees were. Dyson surprised employees with sudden layoffs in October 2024, with one worker describing how “people were grabbing their bags… they were actually leaving. People are shocked.” At Lazada, former employees created WhatsApp support groups, with one noting “the market is rather soft right now” for job seekers.

These aren’t desperate companies cutting costs—they’re strategic moves. Petronas framed their massive retrenchment as necessary for “long-term survival,” not financial distress. TikTok’s cuts came from shifting to AI-powered content moderation. The common thread? Companies are preparing for a fundamentally different future of work.

What HR leaders must get right

Having guided organizations through retrenchments, the difference between success and disaster often comes down to execution. The Lazada case study offers a masterclass in what not to do—failing to consult unions, inadequate initial packages (2 weeks salary per year), and poor timing during festive season. Result? Brand sentiment plummeted from 31.9% to 11.3% positive.

Legal compliance varies significantly between our markets. Singapore requires Ministry of Manpower notification within 5 working days for companies with 10+ employees. Malaysia demands “just cause” documentation and follows “last in, first out” principles. But beyond legal minimums, smart HR leaders are providing comprehensive support packages above statutory requirements.  PropertyGuru demonstrated best practice with 1 month salary per year of service, 3 months extended medical insurance, and comprehensive career assistance. The investment in dignified treatment pays dividends in maintaining employer brand and employee trust.

Critical communication principles I’ve learned: Conduct private individual meetings before public announcements, provide clear business rationale, and address survivor guilt among remaining staff. Documentation is crucial—both for legal protection and employee clarity about entitlements.

Building employee resilience in uncertain times

For employees, the current environment demands proactive preparation rather than reactive panic. Financial planning remains fundamental: emergency funds of 6-12 months expenses, immediate debt reorganization such as consolidating high-interest loans, and exploring side income opportunities that provide 20-30% monthly buffer.

The skills conversation has evolved beyond generic “digital literacy.” Future-proof capabilities now span all industries: finance professionals need data analytics and AI literacy, healthcare workers require cybersecurity awareness for patient data, retail staff benefit from understanding automated inventory systems, and even traditional manufacturing roles increasingly demand digital twin architecture knowledge. The common thread isn’t technical mastery—it’s digital fluency that complements human expertise.

Singapore’s SkillsFuture credits provide S$400 at age 25 with regular top-ups, while Malaysia’s HRD Corp (formerly HRDF) offers extensive funding for reskilling with claims up to RM1,300 per person per day for approved courses. 90% of professionals in both countries recognize the need for continuous upskilling—awareness isn’t the challenge, execution is. Most people postpone learning until crisis hits, choosing Netflix over night classes or weekend courses. The professionals who survive layoffs are those who dedicate 2-3 hours weekly to skill development, treating it like insurance premiums rather than optional extras.

Career resilience now means embracing portfolio careers over linear ladder climbing. The professionals thriving in this environment maintain multiple income streams, build thought leadership through sharing expertise, and view career changes as growth opportunities rather than setbacks.

The cultural dimension that matters

Understanding our regional context shapes effective responses. Malaysian culture’s emphasis on job security creates particular anxiety around layoffs, while Singapore’s multicultural workforce brings diverse expectations about severance and support. Smart HR practices acknowledge these nuances.

The youth unemployment challenge is particularly acute in Malaysia at 10.4%—significantly higher than the overall rate. This suggests systemic skills mismatches that require targeted intervention from both employers and educational institutions.

Government support exists but requires navigation. Singapore’s Jobseeker Support Scheme provides up to S$6,000 over 6 months for eligible individuals. Malaysia offers various HRD Corp programs, though uptake remains inconsistent across industries.

Looking ahead with clarity

Three key insights emerge from the current landscape. First, these layoffs represent strategic positioning, not economic distress—companies are preparing for AI integration and digital transformation. Second, success favors the prepared—both HR leaders with robust retrenchment frameworks and employees with updated skills and financial cushions. Third, career resilience requires mindset shifts from linear career thinking to adaptive portfolio approaches.

For HR leaders, invest now in developing comprehensive retrenchment policies, outplacement service relationships, and manager training for sensitive communications. Don’t wait for crisis to build these capabilities.
For employees, the message is clear: treat career development as continuous insurance, not episodic upgrading. Build emergency funds, maintain professional networks, and develop skills that complement AI rather than compete with it.

The organizations and individuals thriving through 2025’s layoff wave share common traits—they prepare proactively, communicate transparently, and adapt continuously. In our rapidly evolving regional economy, these capabilities aren’t just advantages—they’re essentials for sustainable success.

Disclaimer: The opinions in this article are those of the author and do not represent Wisenet Asia Pte Ltd.

Sources:

Reuters. (2025). Malaysia’s Petronas to cut 10% of workforce, not exiting Canada, CEO says. [online] Available at: https://www.reuters.com/business/energy/malaysias-petronas-cut-10-workforce-not-exiting-canada-ceo-says-2025-06-05/

Bloomberg. (2025). Malaysia’s Petronas to Cut 10% of Workforce on Profit Slump. [online] Available at: https://www.bloomberg.com/news/articles/2025-06-05/malaysia-s-petronas-to-cut-10-of-workforce-after-profits-slump

Marketing-Interactive. (2024). What do TikTok’s layoffs in Malaysia signal for AI development in the country? [online] Available at: https://www.marketing-interactive.com/tiktok-lay-off-malaysia-gen-ai

Vulcan Post. (2024). From Lazada to Amazon: Here is a list of companies laying off in 2024, including in S’pore. [online] Available at: https://vulcanpost.com/850132/companies-laying-off-2024-including-singapore/

The Star. (2025). Fewer Singapore retrenchments in 2024 than in 2023; resident employment grew: Ministry. [online] Available at: https://www.thestar.com.my/aseanplus/aseanplus-news/2025/01/27/fewer-singapore-retrenchments-in-2024-than-in-2023-resident-employment-grew-ministry

Malay Mail. (2024). ‘People are shocked and have low morale’ as Dyson implements surprise layoffs in Singapore. [online] Available at: https://www.malaymail.com/news/singapore/2024/10/02/people-are-shocked-and-have-low-morale-as-dyson-implements-surprise-layoffs-in-singapore/152321

Singapore Legal Advice. Retrenched in Singapore? Know Your Employee Rights. [online] Available at: https://singaporelegaladvice.com/law-articles/retrenched-singapore-employee-rights/

MS News. PropertyGuru retrenchment affects 174 employees, they’ll receive 1 months’ salary per year of service. [online] Available at: https://mustsharenews.com/propertyguru-retrenchment/

Workforce Singapore. WSG SkillsFuture Jobseeker Support scheme. [online] Available at: https://www.wsg.gov.sg/home/individuals/jobseeker-support

Human Resources Online. (2024). 91% of Malaysian employees intend to upskill or reskill in the next 12 months. [online] Available at: https://www.humanresourcesonline.net/91-of-malaysian-employees-intend-to-upskill-or-reskill-in-the-next-12-months

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Chengdu, 13 Jun – WiseNet Asia, in partnership with SIG Global hosted an exclusive exchange on corporate global expansion strategies.  The event was held in Shangri-la Hotel, Chengdu.

In the context of global supply chain restructuring and accelerated regional economic integration, an increasing number of Chinese enterprises are speeding up their expansion into Southeast Asia. Singapore, with its superior business environment and strategic location, has become the preferred choice for companies’ deployment. After settling in, enterprises often face challenges in team building, such as recruitment, management, and cultural adaptation. This event will provide in-depth sharing and discussions on landing strategies and team building.  The event was attended by more than 50 entrepreneurs, executives, or representatives in attendance, coming from various fields including import and export trade, smart manufacturing, e-commerce, corporate services, law firms, food technology, and information technology services.

Event Highlights

Strategic Partnerships & Collaboration

The collaboration between Singapore-based WiseNet Asia and SIG Global demonstrates the power of cross-border partnerships in facilitating business expansion. This joint initiative created a platform for meaningful dialogue between companies at various stages of their internationalization journey.

Expert Insights & Industry Perspectives

Participants gained valuable insights from seasoned executives who have successfully navigated the challenges of global expansion. The dialogue covered critical topics including:

  • Market entry strategies for Southeast Asian markets
  • Regulatory compliance and legal considerations
  • Cultural adaptation and localization strategies
  • Technology integration in international operations
  • Risk management in cross-border business ventures

Networking & Relationship Building

The exchange provided an invaluable networking opportunity, connecting like-minded business leaders and fostering relationships that extend beyond the event. Attendees represented diverse industries, creating a rich environment for cross-sector learning and collaboration.

Advisory Role Announcement

WiseNet Asia is pleased to announce that our Founder, Wesley Hui, has been appointed as Advisor, Industry Engagement at the Singapore Centre for Research in Privacy Technologies (SCRIPTS) at Nanyang Technological University.

About SCRIPTS

SCRIPTS is NTU’s dedicated research centre focused on developing privacy-preserving technologies and solutions. The centre conducts cutting-edge research in areas such as data protection, secure computing, and privacy-enhancing technologies that are increasingly vital in today’s digital economy.

About This Role

In this advisory capacity, Wesley will provide industry engagement insights to support SCRIPTS’ research initiatives. This appointment allows us to contribute our understanding of industry talent needs and business requirements in the technology sector.

What This Means for WiseNet Asia

This advisory role enhances our ability to:

  • Stay informed about emerging technology trends and talent requirements
  • Better understand the skills and expertise sought by research institutions
  • Expand our network within Singapore’s academic and research community
  • Provide more informed guidance to clients in technology-related sectors

Learn More

For detailed information about SCRIPTS and their research initiatives, visit the official NTU SCRIPTS website.


For inquiries about our services, please contact us at info@wisenetasia.com

WiseNetAsia Knowledge Center
Copyright © 2025 WiseNet Asia Pte Ltd.  All Rights Reserved

By Wesley Hui, Founder of Wisenet Asia

The AI revolution currently sweeping across industries is perhaps the most significant paradigm shift that will fundamentally transform how we operate. As an entrepreneur who has spent two decades building businesses in Southeast Asia, I’ve observed a curious narrative gaining traction: that AI will soon replace headhunters and traditional recruitment professionals.

Let me be direct – this perspective fundamentally misunderstands both the limitations of AI and the true value that elite headhunters bring to organisations.

Beyond the Algorithm: What Truly Drives Successful Placements

When we started Wisenet Asia, a talent acquisition firm in Singapore, our initial growth was constrained not by capital or market opportunity, but by talents with the right characteristics (experience is secondary due to the nature of the work). We had the capital, the vision, and the strategy – what we lacked were the right people in key recruitment positions. It is crucial for headhunters to have some key traits and be good at it, for example, reading human beyond speech and understanding cultural nuances.

What differentiates elite headhunters from AI-driven recruitment platforms isn’t simply their ability to match credentials to job descriptions – it’s their capacity to evaluate the intangible human elements that determine long-term success.

Consider this: AI excels at pattern recognition within defined parameters. It can efficiently match keywords on CVs to job descriptions and identify candidates with relevant experience. But exceptional talent acquisition involves much more than credential matching. It requires:

  1. Cultural Intelligence: Elite headhunters assess not just capability but compatibility. They evaluate whether a candidate’s working style, values, and aspirations align with your organisation’s culture and leadership approach.
  2. Contextual Understanding: They recognise that a candidate’s potential value isn’t merely judged by their past work experience, but how their unique experiences translate to your specific challenges.
  3. Relationship Networks: The best placements often come through established relationships and reputation-based referrals – not from analysing publicly available data.

The Singapore Context: Why Human Judgement Remains Paramount

In Singapore’s multicultural business environment, the best candidate for your organisation might come from any background, culture, or region. Elite headhunters navigate this complexity by applying human judgment honed through years of experience. They understand that leadership qualities manifest differently across cultures, and can identify potential that might be overlooked by algorithmic approaches.

At Wisenet Asia, we’ve observed that our most successful placements came through our headhunters who took the time to understand business contexts, strategic challenges, and cultural dynamics of our clients. These weren’t candidates who necessarily appeared optimal on paper – they were professionals whose unique capabilities addressed specific needs in ways that no algorithm could have predicted.

The Economics of Human-Led Recruitment

Beyond the qualitative advantages, there’s a compelling economic case for maintaining human-led recruitment processes, particularly for key positions.

The cost of a mis-hire at the executive level extends far beyond recruitment fees. According to our internal analysis at Wisenet Asia, a failed senior appointment typically costs 5-15 times the position’s annual salary when accounting for direct recruitment costs, lost productivity, team disruption, and strategic opportunity costs.

Elite headhunters significantly reduce this risk through:

  • Deep due diligence beyond reference checks
  • Assessment of leadership capabilities in context
  • Evaluation of soft skills that determine success
  • Understanding of market compensation dynamics
  • Negotiation expertise that secures commitment

While AI tools have dramatically improved efficiency in certain aspects of recruitment, they remain fundamentally limited in their ability to mitigate the most significant risks associated with executive hiring.

The Hybrid Future: AI-Enhanced Human Judgment

The most sophisticated approach to talent acquisition isn’t choosing between AI and human expertise – it’s strategically combining them.

The elite headhunters of tomorrow will leverage AI as a powerful tool within a human-led process. They will use technology to expand their reach across global talent pools, gain deeper insights into market dynamics and streamline administrative aspects of recruitment. However, the critical judgments that determine successful placements will remain fundamentally human.

The Path Forward: Strategic Partnership

For CEOs and business leaders across Singapore and Southeast Asia, the implications are clear. Rather than viewing recruitment as a function to be automated, consider it a strategic capability to be enhanced.

The most successful organisations are establishing long-term partnerships with elite headhunters who develop deep institutional knowledge of their business context, culture, and strategic direction. These partnerships deliver compounding returns over time as headhunters build networks specifically aligned with future talent needs.

At the same time, these organisations are investing in AI-driven recruitment technologies – not to replace human judgment, but to expand its reach and impact.

Conclusion: The Human Element Remains Irreplaceable

As AI continues to transform industries, certain functions will undoubtedly be automated. However, the core value that elite headhunters provide – human judgment informed by experience, contextual understanding, and relationship networks – will remain irreplaceable for the foreseeable future.

In Singapore’s dynamic business environment, where talent is the ultimate competitive advantage, the most successful organisations will be those that embrace technology while recognizing that the human element of recruitment remains essential.

The future belongs not to organisations that replace headhunters with algorithms, but to those that strategically combine human expertise with technological capabilities to build world-class teams.

—End—

On 17 December 2024, a dedicated exchange session to assist enterprises in exploring overseas markets was recently held at the Chongqing Lianglu Guoyuan Port Comprehensive Bonded Zone (CBZ), located within the China (Chongqing) Pilot Free Trade Zone.

The event brought together experts from the Liangjiang New Area (Pilot Free Trade Zone) People’s Court, Standard Chartered Bank’s Chongqing branch, Singapore’s Fuzilin Group, and Wisenet Asia, among others. Through in-depth case studies, speakers provided actionable insights into the challenges of international expansion and strategies to overcome them, covering key aspects such as legal compliance, financing, talent acquisition, and overseas business registration. The session was attended by over 30 representatives from the Chongqing Municipal Commerce Commission, Enterprise Singapore, and various companies within the CBZ.

Addressing Legal Risks in Trademark Registration

Yu Bo, Deputy Chief Judge of the Intellectual Property Tribunal at the Liangjiang New Area People’s Court, shared expertise on the legal risks associated with foreign trademark registration, particularly in relation to OEM trademark infringement. Using vivid examples, Yu guided enterprises on safeguarding their intellectual property rights.

Financing Solutions for SMEs

Chen Youshan, a consultant from Standard Chartered Bank’s SME Banking division, presented tailored solutions for foreign trade financing. She explained the application of various types of letters of credit in international trade, offering practical strategies to address common challenges faced by SMEs, such as high financing costs and limited access to credit.

Talent Management in Cross-Border Operations

Ocean Guan Zhongjie, Deputy General Manager for China at Wisenet Asia, discussed the talent management challenges arising from cultural differences in cross-border operations. Guan shared unique perspectives and practical solutions for managing multinational teams effectively.

Exploring Opportunities in Southeast Asia

Ouyang Qianhu, Assistant Manager at Singapore’s Fuzilin Group, provided a comprehensive overview of the Southeast Asian market. She offered valuable advice on industry selection, business model development, and key considerations for company registration in the region.

Practical Insights for International Growth

Participants praised the event as an invaluable platform for gaining practical guidance. They appreciated the opportunity to hear directly from experts across legal, financial, human resources, and consulting domains, equipping them with effective solutions for navigating international markets.

The head of the China-Singapore Collaboration Department within the CBZ highlighted the event as an innovative expansion of the zone’s enterprise service center capabilities. Looking ahead, the CBZ plans to leverage the China-Singapore (Chongqing) Connectivity Initiative to enhance its service ecosystem further. It aims to provide “one-stop” solutions for enterprises looking to establish themselves overseas while fostering an international professional service environment. These efforts will empower companies to shine on the global stage and drive their international success.

View original article in Chinese: 赋能“新”机遇,出海有策略!重庆两路果园港综合保税区企业出海新加坡专题交流会举行

 

On 15 November 2024 (Friday), during the event “Shaping a Bold New Chapter With You – PaCE@NTU”, Nanyang Technological University (NTU) announced the rebranding of its Centre for Professional and Continuing Education (PaCE) to the Academy for Professional and Continuing Education. Their expanded, high-calibre programmes reflect the commitment to diverse learning pathways that meet changing industry demands, while upholding NTU’s standards of academic rigour and excellence in education and research.

The Academy for Professional and Continuing Education is collaborating with Tsinghua University, China on the upcoming Travel and Learn Program, which is set to launch in March 2025. This program offers a customized executive learning experience, designed to empower professionals with global insights and cutting-edge knowledge through immersive educational journeys.

WiseNet Asia is delighted to support this transformative initiative, bringing its expertise in talent development and executive learning to the program’s implementation.

Wisenet Asia participated in the recent China-Singapore Industry-Education Integration Conference on Connectivity, held from November 10–11, 2024, in Chongqing, China. Hosted by the Chongqing Project Management Bureau (重庆市中新示范项目管理局), this conference brought together leaders from both countries’ educational and business sectors to discuss innovative ways to bridge the gap between industry needs and academic talent development.

Forging New Paths in Talent Development
At the summit, Wisenet Asia’s Director, Wesley Hui, presented on the critical role of industry-education integration in shaping future talent. His presentation, titled “Industry-Education Integration: WiseNet Asia’s Role in Shaping Future Talent,” highlighted how Wisenet Asia supports progressive talent development that aligns with the evolving demands of modern enterprises.


“With rapid technological advancements and shifting industry needs, it’s crucial to bridge academia with real-world applications,” Mr. Hui noted. “Wisenet Asia is committed to facilitating this integration by fostering partnerships that equip students with industry-relevant skills, preparing them to succeed in a competitive, global workforce.”

Strengthening China-Singapore Collaboration in Education
The summit unveiled the China-Singapore Industry-Education Integration Plan, aiming to deepen collaboration between institutions in Chongqing and Singapore. This strategic plan encourages universities and companies from both regions to work together in developing training models that align with enterprise needs, particularly within industries facing skill shortages or rapidly evolving requirements.

This initiative is part of the broader China-Singapore (Chongqing) Connectivity Initiative, which aims to enhance mutual cooperation across sectors like finance, logistics, and information technology, with a strong focus on human capital development.

Advancing On-Site Learning and Real-World Exposure
In addition to the presentations, summit participants, including Wisenet Asia, were invited to a field visit to Chongqing’s Yongchuan District, where they observed a practical example of industry-education integration in action. This visit showcased how educational institutions and local enterprises are jointly developing programs that provide hands-on learning experiences for students, making education more applicable to real-world business contexts.

WiseNet Asia’s Ongoing Commitment
Wisenet Asia’s participation in this summit underscores its ongoing commitment to fostering cross-border collaboration in talent development. The company remains dedicated to working with both academia and industry to create a sustainable, talent-driven ecosystem that meets the demands of today’s economy. By supporting initiatives like the China-Singapore Industry-Education Integration Plan, Wisenet Asia continues to play an instrumental role in developing a skilled, future-ready workforce.

For Wisenet Asia, this event represents more than just a networking opportunity; it’s a step forward in driving meaningful collaboration that ensures students and young professionals are equipped to meet the challenges of tomorrow’s industries.

—End—

This story is a personal recollection by Wesley Hui, Founder of Wisenet Asia.

Everyone has those emotional moments at work—those times when memories linger because they are so profound and heart-wrenching. Despite the expectation to remain composed, feelings can become overwhelming, especially when working on outplacement/talent transitions projects. At our company, we specialize in outplacement services, and I often reflect on my early experiences in this field.

I remember vividly my twenties at a recruitment company, where I managed talent transitions for multinational corporations as a third-party consultant. One case, in particular, remains etched in my memory. The client was an expat in his forties, a towering figure at over six feet tall with a large frame. When we sat down to discuss his career transition, he began to cry even before our conversation officially started. Caught off guard by the emotional outburst of such a strong man, I was initially unsure how to respond.

Instead of attempting to impose structure in that moment, I chose to connect with him on a personal level. I casually asked about his story in a conversational manner and listened empathetically as he shared his experiences. It became clear that he needed someone to truly hear him, someone who could offer an external perspective. As he opened up, we gradually regain control over the emotional tide that had swept through our meeting.

As we navigated this challenging period together, we engaged in a series of reflective exercises that allowed him to explore his feelings and thoughts. Our actual framework for outplacement consists of several phases of written and consultative exercises.  However, in this particular case, our approach was less about rigid frameworks and more about creating a space for self-discovery and clarity.

Exploring Possibilities: We discussed his past roles and the experiences he enjoyed most, highlighting the aspects of work that truly ignited his passion. This exploration allowed him to envision a future that aligned with his authentic self.

Reflecting on Core Values: We took a step back to identify what truly mattered to him in his career—beyond just job titles and salaries. By understanding his core values, he could prioritize what he wanted in his next role.  This part of our discussion was light and brought some real laughters, especially when we tackled the $50 million question that revealed his real personal values.

Unpacking Strengths: Rather than focusing solely on his skills, we examined the unique qualities that made him who he is. This conversation illuminated his strengths and how they could be leveraged in future opportunities.

Navigating Emotional Terrain: We acknowledged the emotional aspects of his transition, discussing how feelings of uncertainty and fear were natural. By normalizing these emotions, he found a sense of relief and empowerment.

Envisioning a New Path: Finally, we envisioned what his ideal work environment would look like. This creative exercise helped him picture not just a job, but a fulfilling career where he could thrive.

In my experience, the journey of talent transition is as much about emotional support as it is about strategic planning. It’s essential to create an environment where individuals feel safe to express their emotions and uncertainties. By doing so, we empower them to navigate the often tumultuous waters of career change with clarity and confidence.

Embracing the human side of outplacement allows us to help individuals transition successfully while fostering resilience and growth in their professional lives.

Looking back, each successful client transition brings me immense satisfaction; they are a part of my blessings.

—End—