Home News SPH considering job cuts

SPH considering job cuts

Author

Date

Category

- Advertisement -

Singapore Press Holdings Ltd., is considering job cuts amid a reorganization, Bloomberg said yesterday

The dominant newspaper publisher is grappling with digital disruption that has eroded readership and advertising revenue.

While Singapore Press has diversified into property, telecommunications and nursing homes, that has failed to arrest a slide in earnings.

Profits have fallen for six straight quarters, including a 45 percent decline in the three months through May from a year earlier.

- Advertisement -

its market value also fell this year, putting it behind New York Times.

Singapore Press had 4,473 employees at the end of May, with a total wage bill of S$276 million ($204 million).

Revenue in the third quarter slipped 11 percent to S$260 million. Its media business was the only segment that reported a decline in sales as advertising shrank.

The planned cuts come less than a month after Chief Executive Officer Ng Yat Chung was appointed Sept. 1. Mediacorp, the country’s other main news group that publishes the Today newspaper, said in August it would stop the print edition, said Bloomberg.

 

Please follow and like us:
Tweet
Share
No tags for this post.
- Advertisement -

Sexual harassment claim: NUS student says he did not receive proper help

Singapore -- A National University of Singapore (NUS) student, formerly from Tembusu College, has written a lengthy social media post not only about how he was sexually harassed by a former student tutor but also about how, when he tried to...

Biden will be nicer to China than Trump

Joseph Biden, the presumptive next US President, will be friendlier to China than US President Donald Trump, judging by Biden’s statements and cabinet selections. Biden’s more harmonious posture towards China will please leaders of various Asian countries including Singapore Prime Minister...

K Shanmugam: In Singapore, the right to speak freely goes with the duty to act responsibly

Singapore—Speaking at the 16th Religious Rehabilitation Group Seminar at Khadijah Mosque on Monday (Nov 24), K Shanmugam, the Minister for Law and Home Affairs, said that the threat of terrorism has not gone away though its “shape and nature” have changed. Citing...
Please follow and like us:
Tweet
Share
No tags for this post.
Follow Me
Tweet