Mediacorp axes 93 positions, affected staff can move to alternate internal roles
Mediacorp announced on Monday (1 Sept) that 93 positions will be cut from its workforce, citing the need to adapt to a “rapidly evolving media landscape” and an uncertain economy.
The move, which affects just over 3% of its staff, comes despite the company stressing it had spent years trying to avoid retrenchments by restructuring operations, reallocating resources, and cutting costs.
Media industry shift blamed for cuts
In a media release, Mediacorp said the media environment has been undergoing “rapid and fundamental transformation”.
It highlighted the dominance of short-form, mobile-first, and social-driven content over traditional long-form formats, alongside clients demanding more agile, platform-native campaigns with measurable results.
The company also pointed to inflation, trade disruptions, and market volatility as economic pressures that have made sustaining jobs increasingly difficult.
Source: Wikipedia
Years of effort to avoid layoffs
Mediacorp said it had previously taken several steps to stave off job losses, including streamlining processes, diversifying its content portfolio, and reallocating resources to higher-growth platforms.
It reported that part of these efforts included cost-saving initiatives and “careful trade-offs to preserve roles and provide stability”.
However, it noted that the “scale and pace of transformation now require further action to strengthen long-term sustainability”.
93 positions axed, affected staff offered alternatives
Mediacorp confirmed that 93 roles would be made redundant, describing it as “slightly over 3%” of its total headcount.
Affected staff will have until the end of September to apply for alternative roles within the organisation. Those unable to secure a position by then will leave the company on 30 Sept.
Retrenched employees will receive a severance payout of one month per year of service, capped at 25 months’ pay or S$250,000, depending on seniority and salary.
They will also receive a training grant for upskilling as well as access to the company’s wellbeing support programme for up to a year, to help prepare them for future career opportunities.
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Featured image adapted from Mediacorp and wutzkoh on Canva. Right image for illustration purposes only.
