Singapore continues to invest in tech despite

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Minister of Communications and Information Josephine Teo said in a program aimed at enabling Singapore’s public and private sectors to utilize Singapore’s non-technically trained individuals for their technical talent and digital transformation plans. I was in charge of launching a Step IT Up.

Through Step IT Up’s accelerated talent transition program, trainees receive the technical know-how, confidence and career transformation guarantees to thrive in the highly competitive digital economy, especially at a time of mass layoffs in the industry. increase. At the start of the program, Teo said Microsoft and Amazon have begun laying off a total of 28,000 jobs worldwide, citing slowing sales and a possible recession. Alphabet, Meta and Twitter have also announced layoffs in the past few weeks.

“Of course, the question everyone is asking is, should we worry about technology opportunities? Is it reckless to continue to encourage employees to consider technology opportunities?” asked Theo . She responded that it is important to recognize that technology will continue to underpin economic growth.

“Right-sizing the workforce of these tech companies is a painful task, especially for affected individuals and their families. I was at risk of becoming bloated and less agile,” she said.

She went on to say that in addition to technology, other sectors such as banking and logistics are still hiring more tech talent, and Singapore will continue to invest heavily in reskilling and upskilling in the tech sector. .

“There is also a perception that technology will continue to support economic growth,” Teo said. Teo also highlighted other areas important to development, such as the green economy and the pursuit of sustainable goals, where technology is expected to play an increasingly important role.

Kiren Kumar, Deputy Chief Executive Officer of IMDA, said: “Tech talent remains in strong demand as Singapore-based companies pursue their digital transformation strategies.”

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