Mediacorp cuts 93 jobs amid evolving media landscape, economic uncertainty
SINGAPORE - Mediacorp will cut 93 jobs amid a rapidly evolving media landscape and prevailing economic and commercial uncertainty.
This accounts for slightly over 3 per cent of its total staff strength, the broadcaster said in a statement on Sept 1.
It did not detail the departments affected by the staffing changes.
The affected staff will have until the end of September to apply for alternative roles within the organisation.
Those who are unsuccessful in securing alternative employment within Mediacorp will cease to be employed after Sept 30 .
Mediacorp said there has been growing pressure to compete for audience attention and commercial revenue, with rising demand for short-form, mobile-first, and social-driven formats.
This has also been set against an increasingly uncertain economic landscape, with inflation, trade disruptions, and market volatility adding complexity, it added.
Mediacorp said it has been implementing cost-saving initiatives and improving its processes to preserve roles and provide stability.
But the scale and pace of transformation necessitated action to strengthen long-term sustainability, it said, leading to this move to reduce its current workforce .
The affected staff will receive a severance package of one month for each year of service to the company, up to 25 months or $250,000 , said Mediacorp. The amount will be dependent on their current salaries and seniority.
“This is a difficult decision and one not taken lightly,” said Mediacorp chief executive officer Tham Loke Kheng. “We are deeply grateful to our colleagues for their contributions, and our priority at this point is to ensure that those affected are supported with care, humility, and dignity during this transition.”
Mediacorp is also partnering NTUC’s e2i (Employment and Employability Institute) and the Singapore Union of Broadcasting Employees (SUBE) to provide support including job-matching services and career guidance.
Read full article on The Straits Times - Singapore
Singapore Employment
Liew989 02/09/2025
Holy wood! Can afford to cut 93 jobs at one go! What a hugely obese organisation!
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