Singapore’s Manpower Minister Gan Kim Yong has called on successful companies to acknowledge the sacrifices made by their workers during the global financial crisis by restoring wages and pay rises.

Several companies asked their workers to accept pay cuts or salary freezes from 2008 in desperate attempts to survive the recession. Companies that managed to prosper should now reward workers in order to retain them and move forward, Mr. Gan said.

He also announced new initiatives to encourage older workers to rejoin the workforce and remain there past age 55, including offers of extra training and upgrading of workplaces to make them more friendly to older employees.

source & article: The Straits Times