- Mediacorp to cut 93 jobs (over 3% of workforce) to adapt to the changing media landscape.
- Support for affected employees includes severance pay, training grants, job-matching services, and wellbeing assistance.
- Reason for retrenchment: shift to mobile-first, short-form content and economic pressures like inflation and market volatility.
Mediacorp, Singapore’s national media network and parent company of news site CNA, announced it will cut 93 jobs as part of an organisation-wide retrenchment exercise. The move affects just over 3% of its workforce.
The company said the decision is intended to help it adapt to the rapidly changing media landscape and align operations amid current economic and commercial uncertainties. Staff affected by the layoffs have until the end of September to apply for other roles within the organisation. Those who are unsuccessful will have their last working day on September 30.
Employees who are laid off will receive severance pay of one month per year of service, capped at 25 months or S$250,000 (RM823,000), depending on their tenure, salary, and seniority. They will also receive a training grant for skills upgrading and access to job-matching services through the National Trades Union Congress’ (NTUC) Employment and Employability Institute.
Mediacorp added that affected workers will continue to receive wellbeing support for up to a year, along with assistance from the Singapore Union of Broadcasting Employees (SUBE).
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“This is a difficult decision and one not taken lightly”, said Mediacorp CEO Tham Loke Kheng. “We are deeply grateful to our colleagues for their contributions, and our priority is to ensure those affected are supported with care, humility, and dignity during this transition.”
The company highlighted that the media industry has changed rapidly in recent years, with short-form, mobile-first, and social-driven formats gaining popularity. Traditional long-form platforms are facing challenges in attracting audiences and advertising revenue. Global economic pressures, including inflation, trade disruptions, and market volatility, have also made it necessary for Mediacorp to rationalise its content portfolio and focus resources on platforms with stronger growth potential.
