Mediacorp Faces Tough Decisions Amid Media Evolution

In a bold move, Singapore's national media network, Mediacorp, has announced the retrenchment of 93 staff members—over 3% of its workforce—as part of its strategy to adapt to a rapidly changing media landscape. This decision comes amid ongoing economic and commercial uncertainties.

Details of the Layoffs and Support for Affected Staff

The restructuring will impact various departments within the organization, although specific details were not disclosed. Employees who are affected will have until the end of September to seek alternative roles within Mediacorp. If they are unable to secure new positions, their last day of work will be September 30.

Those displaced will receive a severance package, offering one month’s pay for every year of service, capped at 25 months or S$250,000. Additionally, Mediacorp will provide a training grant to aid in skills upgrading and future employment prospects.

Strategic Partnerships for Career Transition

Mediacorp is collaborating with the National Trades Union Congress’s Employment and Employability Institute (e2i) to offer job-matching services and career guidance. Affected employees will also continue receiving Mediacorp’s wellbeing support for up to a year, alongside help from the Singapore Union of Broadcasting Employees (SUBE).

Leadership Speaks on Difficult Choices

Mediacorp’s CEO, Tham Loke Kheng, stated that these decisions were not made lightly. "We are incredibly grateful for the contributions of our colleagues, and our focus is on supporting them during this challenging transition with dignity and respect," she said.

Adapting to an Ever-Changing Media Landscape

The media sector is undergoing significant transformation. Short-form and mobile-first content is dominating the industry, putting pressure on traditional media formats to compete for attention. Client demands are shifting towards more personalized and performance-driven campaigns.

Mediacorp acknowledged that global challenges like inflation and market volatility have added complexity to these shifts. In anticipation of these changes, the company has been actively refining its content portfolio and reallocating resources to focus on growth-oriented platforms.

Union and Community Support Amid Changes

In a statement, the Singapore Union of Broadcasting Employees (SUBE) confirmed prior notification from Mediacorp regarding the layoffs and expressed commitment to support affected workers. They are collaborating with other unions to ensure staff receive adequate assistance and are exploring redeployment options.

Desmond Choo, SUBE advisor and NTUC’s deputy secretary-general, emphasized the importance of standing by union members through this transition. The upcoming job fair organized in partnership between Mediacorp and NTUC's e2i will serve as a crucial platform to connect impacted workers with potential employers.

Extended Support for Job Seekers

Moreover, Singaporean workers affected by the layoffs can access the SkillsFuture Jobseeker Support scheme, which provides financial assistance of up to S$6,000 over six months for those involuntarily unemployed. Eligible members can also benefit from the Union Training Assistance Programme to subsidize training costs for skill enhancement.