SPH Magazines undergoes restructuring to consolidate position
SPH Magazines, the magazine arm of Singapore Press Holdings (SPH), will launch a major restructuring exercise to consolidate its position as a major digital network in the magazine space.
With the restructuring, SPH Magazines' staffing will be reduced from 379 - as of August last year - to about 300, mostly through ongoing staff attrition and redeployment, SPH announced yesterday.
However, 13 staff who could not be redeployed will be retrenched this month. They will receive compensation on terms negotiated and agreed with the staff union.
The restructuring of SPH Magazines includes reorganising divisions and relocating some operating units.
The custom publishing team and its contract titles will be transferred to Focus Publishing. The editorial division will launch shared digital desks to speed up the company's digital-first strategy.
The title teams will continue to handle both print and digital content, while retaining each brand's unique selling points.And the current sales and marketing teams will be reorganised across titles into two divisions.