A Straits Times article reported that retrenchments in Singapore rose to 3,830 in the first quarter of 2026, the highest quarterly figure since the third quarter of 2023. What caught my attention was not just the increase in retrenchments, but who was being affected.
Degree holders and PMETs saw a notable rise in retrenchments. The report also highlighted what some call a “mobility trap” among mature professionals, where seniority and specialised expertise can make it harder to transition into equivalent opportunities.
That got me thinking.
Then, a month later, the next quarter’s numbers came in. And the trend didn’t slow down. Retrenchments climbed again, to 4,500 in the second quarter of 2026. That’s a 17.5% jump, and the highest quarterly figure since the last quarter of 2020, reported by both The Straits Times and CNA off the same Ministry of Manpower data. Almost 8 in 10 of those retrenchments (3,500 of the 4,500) came from the services sector, where most PMET and executive roles sit.
To be fair, the broader labour market kept expanding through this. Total employment grew for a 19th consecutive quarter, and unemployment held steady at 2%. But that aggregate strength describes whether jobs exist somewhere in the economy, not whether the specific role you’ve built your career and income around is easy to replace.
That is a different question. And for senior professionals, it’s the one that matters.
For many senior executives today, the biggest financial risk is no longer market volatility.
It is career volatility.
The Hidden Risk of Success
Imagine two people lose their jobs tomorrow.
One is a 28-year-old manager earning $6,000 a month.
The other is a 52-year-old executive earning $20,000 a month.
Who faces the bigger financial risk?
It is easy to assume the executive is better positioned because they have a higher income and likely more assets.
In reality, the opposite can sometimes be true.
Senior professionals often have larger financial commitments. Mortgages. Children’s education. Aging parents. A lifestyle built around a higher income.
At the same time, replacing a $20,000 monthly salary is usually much harder than replacing a $6,000 one.
The challenge is not unemployment.
The challenge is replacing a highly specialised, highly compensated role.
Why This Matters More Than Ever
What is happening today is not necessarily a weak labour market.
Many companies are still hiring.
But increasingly, organisations are restructuring, redesigning roles, and adopting technology that changes the nature of work.
In other words, the question is no longer:
“Will I have a job?”
The question is:
“How quickly can I replace my current income if my role disappears?”
That is a very different risk.
And often, it is a risk that is largely outside our control.
The Case for a Career Resilience Fund
This is why I believe every working professional should build what I call a Career Resilience Fund.
A Career Resilience Fund is not an emergency fund.
It is not simply cash sitting in a bank account.
It is a dedicated pool of assets designed to give you options when your career encounters an unexpected disruption.
It buys time.
Time to search for the right role instead of accepting the first offer available.
Time to negotiate from a position of strength.
Time to reskill, pivot industries, start a business, or simply take a break if needed.
The purpose is not to prepare for failure.
The purpose is to preserve freedom of choice.
A Different Way to Measure Financial Security
Many people measure financial security by their income.
I think a better question is:
“If my income stopped tomorrow, how many months of career resilience do I have?”
Three months?
Six months?
Twelve months?
Twenty-four months?
The answer often reveals far more about financial resilience than the size of someone’s paycheck.
Building Towards True Freedom
Ultimately, the goal is not merely to survive a retrenchment.
The goal is to become less dependent on active income over time.
To build sufficient assets such that career decisions become choices rather than necessities.
Because true financial security is not about never losing a job.
It is about knowing that if you do, your future remains firmly in your own hands.