Gardenia, Meta, H&M & StanChart announce major job changes affecting S’pore staff amid restructuring moves

Gardenia cuts 141 Singapore jobs, H&M asks staff to reapply for roles as Meta and StanChart announce major layoffs

Several major companies have announced significant workforce changes this week, with firms across manufacturing, tech, banking, and retail restructuring amid rising costs, operational shifts, and growing investment in artificial intelligence (AI).

On Wednesday (20 May), Gardenia confirmed that it would retrench 141 employees in Singapore as it shifts bakery production to Malaysia.

That same day, Meta reportedly began notifying employees in Singapore as part of a global layoff exercise affecting around 8,000 roles.

Meanwhile, H&M employees in Singapore were reportedly asked to reapply for jobs across Asia under a regional restructuring exercise, while Standard Chartered announced plans to cut more than 7,000 jobs globally over the next four years as it increases its use of AI and automation.

Gardenia retrenching 141 staff after shifting production to JB

Gardenia will stop production at its Pandan Loop manufacturing facility on 30 June, as bakery production moves from Singapore to Johor Bahru.

The company said the move is part of efforts to improve operational efficiency and remain competitive in a challenging global environment.

Affected employees were informed at an internal meeting on Wednesday morning and will receive support in line with local regulations and guidelines.

Gardenia added that Singapore will remain its central hub for functions such as brand management, innovation, product development, and regulatory oversight.

About 250 employees will remain in Singapore after the transition.

The Food, Drinks and Allied Workers Union (FDAWU), which is affiliated with the National Trades Union Congress (NTUC), was also informed in advance and will help provide training and job placement support for affected workers.

Meta reportedly laying off thousands globally as AI investment grows

Tech giant Meta is reportedly carrying out another major round of layoffs as it continues to invest heavily in AI.

According to The Straits Times, employees in Singapore began receiving layoff emails at about 4am local time on 20 May.

The company is expected to cut roughly 8,000 roles worldwide, with engineering and product teams expected to be among those affected.

At the same time, around 7,000 employees have reportedly been reassigned to newly formed AI-focused teams, including those working on products and agents.

Meta has committed more than US$100 billion (S$128 billion) to AI capital expenditure in 2026, as CEO Mark Zuckerberg makes AI a top priority for the company.

Standard Chartered to cut over 7,000 jobs as it increases AI use

Meanwhile, Standard Chartered also plans to cut thousands of jobs globally as it increases automation and AI adoption across its operations.

On Tuesday (19 May), the bank announced that it would eliminate more than 7,000 jobs over the next four years, CNA reported.

CEO Bill Winters said the move involved replacing “lower-value human capital” with technology investments as the bank streamlines operations and works towards greater productivity.

H&M staff in Singapore asked to reapply for jobs

Separately, H&M employees across the company’s East Asia regional market, including Singapore, have reportedly been asked to reapply for roles as part of a restructuring exercise.

The move reportedly involves shifting the retailer’s Southeast Asia headquarters from Singapore to Kuala Lumpur.

According to employees who spoke to CNA anonymously, staff may apply for 178 available roles across the region, with only four positions based in Singapore.

Employees who are unsuccessful may face “mutual separation” in accordance with local employment laws.

One employee described the process as stressful and uncertain, saying staff knew roles were being cut but did not know who would be affected.

H&M has not confirmed the exact number of employees affected.

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Gardenia, Meta, H&M & StanChart announce major job changes affecting S’pore staff amid restructuring moves