SINGAPORE — Mediacorp, Singapore’s national media network and parent company of news site CNA, is cutting 93 jobs in an organisation-wide retrenchment exercise.

The move, which affects just over 3 per cent of its workforce, is aimed at helping the company “adapt to the rapidly evolving media landscape and to better align its operations amid the prevailing economic and commercial uncertainty,” Mediacorp said in a statement today.

The company added that staff affected will have until the end of September to apply for other roles within the organisation. If unsuccessful, their last working day will be on September 30.

It also said that employees who are laid off will receive severance pay of one month per year of service, capped at 25 months or S$250,000 (RM823,000), depending on their tenure, salary and seniority. They will also receive a training grant for skills upgrading and access to job-matching services through the National Trades Union Congress’ (NTUC) Employment and Employability Institute.

Mediacorp said affected workers will continue to receive wellbeing support for up to a year, along with assistance from the Singapore Union of Broadcasting Employees (SUBE).

“This is a difficult decision and one not taken lightly,” said Mediacorp chief executive officer Tham Loke Kheng.

“We are deeply grateful to our colleagues for their contributions, and our priority at this point is to ensure that those affected are supported with care, humility, and dignity during this transition.”

The company noted that the media industry has undergone rapid transformation in recent years, with short-form, mobile-first and social-driven formats becoming dominant, while traditional long-form platforms face challenges attracting audiences and advertising revenue.

It added that global headwinds such as inflation, trade disruptions and market volatility have added further pressure, making it necessary to rationalise its content portfolio and shift resources to platforms with stronger growth potential.