Yellow Pages to restructure, stop publishing print directories
Global Yellow Pages (GYP) announced yesterday that it will restructure to focus on real estate as its core business, and cease publication of print directories from next year.
Arising from this and the restructuring of the digital business, there will be retrenchments and the company is assisting employees affected by it, GYP said.
It did not disclose how many employees will lose their jobs.
Mr Stanley Tan, chief executive and director of GYP, said the company regrets very much that the revamp of the Search product offerings has affected colleagues, some of whom have served with the company for many years.
"However, due to evolving market trends as more users take to online platforms to search for information, we are no longer able to sustain the print directories that are iconic publications familiar to most Singaporeans."
He added that the company is working with the Singapore Manual and Mercantile Workers' Union to render assistance to affected staff.
In response to a Straits Times question, a company spokesman said the retrenchment will affect staff across all departments. - THE STRAITS TIMES
FOR MORE, READ THE STRAITS TIMES TODAY