CapitaLand Investment cuts 90 Singapore staff in restructuring exercise
CapitaLand Investment (CLI), a global real estate investment manager, has reportedly retrenched 90 staff, or around four per cent of its Singapore workforce, as part of a restructuring exercise.The firm said in a joint statement with the Singapore Industrial and Services Employees' Union (SISEU) on Sept 3 that it "periodically reviews its organisational structure" to ensure it remains aligned with its strategic priorities and long-term business needs.CLI is a unionised company under SISEU and reportedly has about 2,200 employees in Singapore, with the majority based at its office at Capital Tower.The union said it was informed of the restructuring exercise in advance and has been engaging the firm throughout the process to represent workers' interests, ensure affected employees are treated fairly and that the severance package is in accordance with the Collective Agreement."Supporting employees is a key priority. CLI is committed to treating them with care and respect and will provide support through fair severance arrangements, career transition services and counselling support," CLI and SISEU said in their statement.