The company has announced that it plans to cut staff numbers by up to 10 percent over 2 years, as a means of “right-sizing” to reduce operating costs.
So if you’re the wrong fit, out you go.
This announcement comes as SPH announced the merger of The New Paper and My Paper into a free broadsheet.
It appears that the company is struggling to cope with the new media climate and the changes that come with it.
It is looking to make several changes to its portfolio to draw more from advertisers.
Said CEO Alan Chan:
“We have done a comprehensive business review to strengthen our position in a tough economic and media environment. Market conditions will remain difficult with the continuing disruption of the media industry.”
Could we be seeing more cardboard collectors exercising in the neighbourhood come 2018?