SPH shuts down AsiaOne just 4 months after revamp

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AsiaOne is the latest to be affected by Singapore Press Holdings’ mass job cut exercise, as the firm continues culling employees and relocating staff to new newsdesks as it seeks to cut 230 jobs. The online news aggregator site will be shut down as early as next month, according to sources from within SPH.

This is in spite of the fact that AsiaOne underwent a comprehensive revamp just over four months ago, in May this year. The portal, which has been around for two decades, switched up its look and content direction, opting to focus on popular, trending stories instead of breaking news.

Interestingly, Karen Lim – AsiaOne’s editor – had said when unveiling the revamped site, “We see AsiaOne as a project that never ends. We are constantly improving and building on the existing site.”

Just over four months later, it is all coming to an end. AsiaOne’s staff will reportedly be relocated to the Straits Times’ digital team.

The announcement follows SPH’s decision to cut 230 jobs and retrench 130 staff members, as confirmed on Wednesday.

 

Interestingly, mass retrenchment is ongoing even as SPH’s full year net profit rose significantly from last year. While advertising revenue did decline by 16.9 percent year-on-year, or by S$103 million this financial year, SPH’s full year net profit still rose by 32 percent to S$350.1 million from the previous financial year.

The move, which effectively indicates that SPH has resorted to mass job cuts in a time of profit, has attracted scrutiny from socio-political commentators online.

SPH mass retrenchment to save costs is like “applying a plaster to a gaping wound”

112 COMMENTS

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    A project that never ends….finally ended by NYC….lol i hope all the retrenched ones come out to speak the truth against the PAP after writing so many fake news for SPH

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    He will do anything to save his own ass and his high salary! When does this asshole show leadership? Look at the government today …. everyone trying to consolidate their own influents and power!

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    They are making profit yet they are retrenching staff. Perhaps retrenching staff especially the older ones with new and whose pay are just peanuts. AsiaOne is one more to his credit of companies this military man is having disappear from the face of Singapore. While I I am in a way eery very happy the these people who supported the ruling party propaganda machinery are out of job. They are the 70% please remember that. They got what they voted.

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    This chief has to go. He was also the one who screwed up NOL. The company started making money after his departure. All these hopeless and rubbish paper generals. Good for nothing, nothing for good. Why put such people to run big companies when they don’t even know how to run a business?!

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    This guy should do the same thing at SPH as for NOL : After cutting costs, try to sell to foreign consortium. Of course he dare not. Becos this would mean the loss of a mouthpiece. Or sell it to MediaCorp to build a mega media company, or to take it private, which means invisibility to results. I suppose that is what this guy is only good for.

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      Don’t forget the fact that the current Chairman of SPH is ex-minister Dr Lee Boon Yang.

      If he and his board of directors refuse to recruit this fatso general, this may not have happened.

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    ..dis fatty paper general r real asshole..making hundred of breadwinner losing their jobs..NOL n now SPH..in sg CEOs r getting richer n richer every yrs even in economy downture…while still pay n collect million in salary n bonuses..wat a fxxx..thank you 69.9%..mandate..

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    Perhaps.. i am just speculating.. Maybe Mr Ng is trying to get some foreign entities to come in and buy over SPH. Free press is finally near!!

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