Bethlehem Singapore Pte. Ltd. will lay off...

Bethlehem Singapore Pte. Ltd. will lay off all 500 of its shipyard workers at the end of December because of lack of business.

Bethlehem Singapore, 70% owned by Bethlehem Steel of the United States and 30% by the Development Bank of Singapore, has operated in Singapore since 1971.

The shipyard, which has built rigs for the offshore oil industry, recently completed a seven-story floating luxury hotel for $20 million and shipped it to Australia on Dec. 21.

All workers were given one-month notice of termination Dec. 1 “owing to a prolonged and continuing adverse economic environment.”