Singapore Press Holdings Limited (SPH) will see an approximate 5% reduction in staff numbers across the Media Group as a result of the group streamlining its media operations with sales approach.
The exercise is expected to be completed within the current quarter and to incur retrenchment costs of approximately $8m.
The group further reported a net profit of $213.2m largely due to the absence of the one-off gain from the divestment of the Treasury & Investment portfolio and drive by higher income from property, according to an official statement.
SPH is further seeking opportunities to expand its presence in Singapore and Read full story ›
Source: The Drum
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