[SINGAPORE] Mediacorp is laying off 93 staff as it adapts to a “rapidly evolving media landscape and to better align its operations amid the prevailing economic and commercial uncertainty”.
The cuts amount to slightly over 3 per cent of its workforce, the national media organisation said in a press statement on Monday (Sep 1). It did not specify what departments are affected but said the retrenchment was organisation-wide.
“Over the past few years, the media environment has undergone rapid and fundamental transformation,” said the company. “Short-form, mobile-first, and social-driven formats are becoming dominant, while traditional long-form content and platforms face growing pressure to compete for audience attention and commercial revenue.”
Mediacorp also cited complexity from global macroeconomic pressures such as inflation, trade disruptions and general volatility as reasons behind the manpower redundancies.
The company said it has made efforts to keep pace with the changing media consumption environment while trying to preserve jobs, but the “scale and pace” of change has necessitated cuts.
Mediacorp brands include CNA, Channel 5 and mewatch.
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Chief executive officer Tham Loke Kheng said the “difficult decision” was not taken lightly.
Affected staff will have until the end of September to find other roles within Mediacorp. If unable to do so, they will receive a severance payment of one month per year of service, up to 25 months or S$250,000 depending on experience, salary and seniority.
They will also receive a training grant aimed at skills upgrades and preparation for future opportunities.
The Singapore Union of Broadcasting Employees said in a statement that it is ready to support affected staff. “We understand that the media industry is undergoing significant changes, driven by technological advancements and evolving audience content habits.”
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