Singapore subsidiary of Chinese state-owned company lays off 300 staff amid US sanctions
SINGAPORE: The local arm of China Certification & Inspection Group (CCIC), a Chinese state-owned enterprise, has laid off approximately 300 employees and is undergoing liquidation following its addition to the U.S. sanctions list last month.
The Singapore-based subsidiary, which is part of a wider group headquartered in Beijing, was sanctioned on May 15 alongside 14 other companies. The U.S. Treasury Department accused CCIC of aiding in the concealment of Iranian oil origins during cargo inspections, enabling shipments to China despite sanctions on Iran.
Three employees who spoke anonymously to CNA confirmed that layoff notices were distributed on May 30, with the dismissals taking effect the following day. Two sources estimated that the group employs over 400 workers across Singapore and Malaysia, with more than 300 stationed in Singapore alone.
Staff expressed frustration as they spoke to CNA about the delayed payment of May salaries and criticized the severance packages, particularly since many relied heavily on overtime pay and allowances to supplement their basic income. Several employees also expressed concerns about management's lack of transparency and accountability, claiming that senior executives had declined requests for meetings to address staff concerns. See also S'pore only Asian economy to contract?
CNA reports that the company does not have union representation in Singapore. Despite this, some affected employees have since sought assistance from the National Trades Union Congress (NTUC) and the Tripartite Dispute Mediation Alliance.
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