By Shawn Lim

Singapore Press Holdings (SPH) has retrenched a number of personnel in its advertising arm and magazines operations as the ongoing Covid-19 pandemic decimates advertising revenue.

The media conglomerate will let go of 140 marketers and editorial personnel from its Media Solutions Division (MSD) and SPH Magazines, about 5% of the overall Media Group’s headcount, incurring retrenchment costs of approximately $8 million.

“Subscriptions and readership of our news titles have increased since the onset of Covid-19. However, the economic downturn has significantly impacted our advertising revenue. A more integrated approach of producing and selling our content across our various platforms will Read full story ›

Source: The Drum