Learning never stops: Why reskilling is Acronis’ answer to a changing job market

Singapore's labour market is changing, and the numbers show it. The Ministry of Manpower's (MOM) latest Q2 2026 labour report recorded 4,620 retrenchments in the second quarter of 2026, the highest since the end of 2020. Job vacancies slipped to 68,600, with the sharpest falls in professional roles in financial services and in information and communications. Laid-off residents are also taking longer to find their next role. Only 54.9% found work within six months, down from 60.7% the previous quarter.

The overall picture isn't grim. Total employment grew for the nineteenth straight quarter, unemployment remains low, and there are still more vacancies than jobseekers. MOM was also clear that the rise in retrenchments is concentrated in a few sectors and that it sees no sign yet that the trend will continue. All this points to the fact that the labour market is becoming more selective. Roles are open, but matching people to them takes longer, and skills requirements shift quickly.

We see this as a reason to invest in our people. At Acronis, we believe continuous reskilling is one of the most reliable ways for our people and company, to stay ahead.

When hiring slows and employers become more careful, the people who do best are those whose skills keep pace with the work. Workforce specialists quoted in the local press make the same point. Employers increasingly hire for adaptability, digital fluency and problem-solving, not just past job titles. They also stress that companies should develop the talent they already have as technology reshapes roles, rather than replace it.

AI is accelerating this shift. MOM has said it is still studying how much AI contributes to job losses, and surveys suggest many firms redesign roles rather than cut headcount when they adopt it. Either way, the skills a software engineer needs today differ from those needed a few years ago, and they will keep changing.

For a software company, this leaves little room for standing still. The engineers who build our products need to keep learning, and our partners' teams do too.

Continuous learning at Acronis isn't a perk added later. Engineers are immersed in it from the day they join, and it shapes how we work. That culture is why we can adapt as technology changes instead of scrambling to catch up.

Acronis has also invested significantly into Singapore. Since 2015, Acronis has put in SGD240 million into our Singapore R&D Centre. The team now has 90 software engineers and a localisation rate close to 75%. Our flagship Cyber Protection product, built jointly by Singapore and Bulgarian engineers, is sold globally, including in the US and Europe.

We train engineers on real work, for roles the business needs. Rather than learning the abstract, they build new skills on real-life projects and transit into roles such as (but not limited to):

1. Software Architecture
2. Full Stack Development
3. AI/ML
4. Incident Investigation

The engineers who have made these moves now handle higher value-added work that wouldn't have been open to them otherwise.

Our in-house training is complemented by the Career Conversion Programme (CCP), supported by MOM and the Singapore Workforce Development Agency (SWDA). Since 2024, we have enrolled 54 staff in the programme.

These two programmes complement each other. Our internal training builds the habit of learning and provides hands-on exposure. The CCP adds a structured route into new roles or assignments, with government support for the transition.

This is what Acting Minister for Manpower Jasmin Lau highlighted when she visited our Suntec City office on 21 September 2026. She described career conversion as training for actual roles that companies need. Workers learn on the job, gain real experience and build on skills they already have. She also encouraged everyone to see learning as a way to “open up more possibilities for what comes next”, not only to protect what they have. That is the approach we take with our engineers.

In a market where moving between jobs can take longer, engineers naturally ask whether an employer will keep them employable. We want the answer to be yes. When people can grow into architecture, AI and other high-demand roles without leaving, they build careers with us instead of hunting for the next opportunity elsewhere.

This is what we mean by being an employer of choice. Beyond a job, we offer a path for engineers to keep growing, with the training to follow it.

Reskilling shouldn't stop at our own walls. We encourage our ecosystem of Managed Service Providers (MSPs) to explore training programmes for their teams too, so that the whole ecosystem stays competitive as technology evolves. Acronis will work alongside you, and we will partner with the government to share best practices and case studies.

We also plan to deepen our technology partnership with the Singapore government in areas such as Security for AI, Ethical AI and Responsible AI, through joint R&D or policy development. Building the skills of the people behind these technologies is part of the same effort.