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Salient. Victoria University Student Newspaper. Vol. 38, No. 9. April 29, 1975
9-4-75 The Straits Tunes — 'MNC's Helped Solve Jobs Shortage'
9-4-75 The Straits Tunes
'MNC's Helped Solve Jobs Shortage'
The Singapore Labour Minister, Mr. P.B. Ong has said that multi-national companies (MNCs) had helped to break the back of Singapore's unemployment problem. Without these companies, Singapore would still have had its serious unemployment problem of the 60s.
Note: Over 14,000 workers retrenched in Singapore in 1974. In certain MNCs (eg. National Semiconductor Ltd. (N.S.), Airco) retrenchment is done simultaneously with the factory expansion. In the Straits Times on August 1, 1974, while Page 16 carried a report on the retrenchment of 630 workers from N.S., Page 17 carried an advert by N.S. in Nalacca, boasting of their 'fast expansion'.