MEDIA & MARKETING | Staff Reporter, Singapore

SPH said to reduce workforce by as much as 10% in cost-cutting drive

It is also looking at merging two newspapers.

Singapore Press Holdings Ltd., Southeast Asia’s biggest newspaper publisher by market value, plans to merge two of its tabloids to form a new free-distribution publication as part of a restructuring effort, three people with knowledge of the matter said.

The publisher is planning to merge The New Paper and My Paper, they said, declining to be identified because the information isn’t public. The company also plans to cut 5 percent to 10 percent of its workforce, mostly part-time workers, two of the people said. Deputy Chief Executive Officer Patrick Daniel is planning a town hall with employees to discuss the restructuring following the announcement, which could come as soon as Thursday, the people said.

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