4-11-2024 (SINGAPORE) Singapore Press Holdings (SPH) Media has announced the redundancy of 34 technology staff members as part of a significant restructuring initiative aimed at streamlining its digital operations. The reduction, affecting approximately 10 per cent of the technology division’s workforce, comes as the media company seeks to establish a more sustainable operational model.
In a company-wide announcement, Chief Operating Officer Loh Yuh Yiing and Chief Technology Officer Kaythaya Maw outlined the restructuring plans, which include a reorganisation of the technology division into three primary departments: the CTO Office, Information Technology, and Product & Engineering.
The company, which publishes flagship newspapers The Straits Times and Lianhe Zaobao, cited mounting financial pressures facing media organisations globally, including declining revenues and escalating costs associated with digital transformation. Technology expenditure currently represents nearly 20 per cent of SPH’s annual costs, with payroll accounting for approximately two-thirds of this figure.
“While aggressive technological investment was necessary to catalyse our initial transformation phase, maintaining such levels beyond 2024 is not financially viable,” Loh explained in an internal communication. The company confirmed that affected staff would receive comprehensive severance packages aligned with tripartite guidelines, alongside career coaching and placement assistance.
The restructuring also sees the establishment of a standalone business insights and analytics department, previously part of the technology division, which will report directly to the COO. This strategic move aims to enhance data-driven decision-making across the organisation.
SPH Media, which was reorganised as a company limited by guarantee in 2021, emphasised that the redundancies were implemented only after exhausting other cost-reduction measures. The company has indicated that while regular resource optimisation will continue, no further significant staff reductions are currently planned.
The new organisational structure, effective from November 5, will see Jensen Boey heading the CTO office, Christopher Lim leading Information Technology, and Kaythaya Maw temporarily overseeing Product & Engineering operations.
