The cuts account for slightly over three per cent of Mediacorp's total staff strength, the broadcaster said in a statement on Sept 1. - ST/ANN
SINGAPORE: National media network Mediacorp will cut 93 jobs amid a rapidly evolving media landscape and prevailing economic and commercial uncertainty.
This accounts for slightly over three 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, though it said it was an organisation-wide retrenchment exercise.
Affected staff will have until the end of September to apply for alternative roles within the organisation.
Those who are unsuccessful in securing alternative placements will cease to be employed after Sept 30.
Mediacorp noted that the media landscape has undergone rapid and fundamental shifts in the past few years.
Traditional long-form content and platforms have faced 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 global macroeconomic pressures such as inflation, trade disruptions and market volatility adding complexity, it added.
In response to industry and economic trends, Mediacorp said it has been taking proactive steps to rationalise its content portfolio and reallocate resources towards formats and platforms with stronger growth opportunities.
It has also implemented cost-saving initiatives and improved 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 its move to reduce its current workforce.
Affected staff will receive a severance package of one month for each year of service in the company, up to 25 months or S$250,000 (US$194,773), said Mediacorp. The amount will also be dependent on their current salaries and seniority.
Staff who spoke to The Straits Times at Mediacorp’s one-north premises at about 1pm said they found out about the retrenchments only on Sept 1.
A CNA employee, who declined to be named, said he learnt about it from an e-mail sent by Mediacorp chief executive Tham Loke Kheng only on the morning of Sept 1.
He added that he did not personally know anyone who had been affected.
ST understands that some employees from Mediacorp’s casting department as well as CNA’s podcast department were affected.
“This is a difficult decision and one not taken lightly,” said Tham in the statement. “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 Employment and Employability Institute (e2i) and the Singapore Union of Broadcasting Employees (SUBE) to provide support, including job-matching services and career guidance.
SUBE, which is affiliated to NTUC, said in a statement on Sept 1 that it was informed in advance by Mediacorp about its staffing changes.
Mediacorp employees are unionised under SUBE.
The union said it will ensure that affected workers are able to explore redeployment to suitable roles within the organisation or be offered fair compensation packages as they transit to the next job.
NTUC deputy secretary-general Desmond Choo, who also advises SUBE, said: “We understand that the media industry is undergoing significant changes, driven by technological advancements and evolving audience content habits. SUBE is committed to standing alongside our members during this transition.”
Affected Singaporean staff may be eligible to receive temporary financial support of up to S$6,000 over six months through the SkillsFuture Jobseeker Support scheme.
Eligible SUBE members may also have access to the Union Training Assistance Programme to offset training course fees.
In 2015, Mediacorp retrenched around 30 employees and redeployed about 50 others, citing a need then to “ensure optimal resource allocation”. - The Straits Times/ANN
