Mediacorp lays off 93 staff due to rapid scale and pace of change in media landscape

[SINGAPORE] Mediacorp on Monday (Sep 1) announced that it is laying off 93 staff in response to a rapidly changing media landscape with mobile-first and social-driven formats becoming dominant.

This amounts to slightly over 3 per cent of its workforce, it said in a press statement. The Business Times has reached out to clarify which departments are affected.

“Over the past few years, the media environment has undergone rapid and fundamental transformation,” said the company. “Short-form, mobile-first, and social-driven formats are becoming dominant, while traditional long-form content and platforms face growing pressure to compete for audience attention and commercial revenue.”

The company said it has made efforts to keep pace with the changing media consumption environment while trying to preserve jobs, but the “scale and pace” of change has necessitated cuts.

Mediacorp brands include CNA, Channel 5 and mewatch.

Chief executive officer Tham Loke Kheng said the “difficult decision” was not taken lightly.

Affected staff will have until the end of September to find other roles within Mediacorp. If unable to do so, they will receive a severance payment of one month per year of service, up to 25 months or S$250,000 depending on experience, salary and seniority. 

They will also receive a training grant aimed at skills upgrades and preparation for future opportunities.

“We understand that the media industry is undergoing significant changes, driven by technological advancements and evolving audience content habits,” said the Singapore Union of Broadcasting Employees, adding that it is ready to support affected staff.