Daily Briefing: Only 13% of employers could boost headcount in Q2; Fashiontech VC Lyra Ventures launches global fund

And logistics company Ti2 has been fined for making false declaration on fair hiring.

From Human Resources Online:

As the COVID-19 situation unfolds, employers in Singapore are anticipating a conservative hiring pace for Q2 2020.

According to the latest ManpowerGroup Employment Outlook Survey, of the 622 employers in Singapore polled, only 13% of employers were expecting an increase in headcount, while 4% were expecting a decrease.

Despite this, the survey revealed that 77% were planning to keep their workforce levels steady.

Amongst the seven industry sectors included in the report, the services (12%), finance insurance (11%), and transportation industries (11%) demonstrated the strongest job outlook.

Read more here.

From e27:

Fashion tech VC firm Lyra Ventures, announced the launch of their second fund with investment from Japanese fashion conglomerate TSI Holdings.

This follows Lyra Ventures’ recent investment into the US retail platform Neighborhood Goods.

The firm said that the new fund will be used to further expand the firm’s operations outside Singapore.

Lyra Ventures’ earlier investments include visual AI technology provider Syte AI.

Read more here. 

From Channel News Asia:

Logistics company Ti2 has been fined $18,000 for falsely declaring in its work pass application that it had applied fair consideration for local employees in hiring a foreigner for a position.

The company was also banned from hiring foreign employees for two years, the Ministry of Manpower (MOM) said in a news release.

The company’s sole director Francis Chiang, who is in charge of recruitment, pleaded guilty to one charge under the Employment of Foreign Manpower Act.

MOM said that Ti2 Logistics is the first firm to be prosecuted for making false declarations on fair hiring conditions under the enhanced Fair Consideration Framework.

Read more here.