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110 replies to this topic | 728 praises

#1

Posted 12 October 2016 - 03:26 PM

Jellandross
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Anyone got insider news?

 

http://www.bloomberg...educe-workforce

 

Singapore Press Said to Merge Two Newspapers, Reduce Workforce

-1x-1.jpg

  • The New Paper, My Paper will merge to form a ‘free sheet’
  • Company also plans to cut workforce by as much as 10 percent

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.

 

Singapore Press Holdings, whose market capitalization of S$6 billion ($4.4 billion) is more than twice that of The New York Times Co., said in an e-mailed response to queries that it doesn’t respond to speculation. The company will release earnings for the year ended Aug. 31 on Friday.

 

The plans by the publisher of The Straits Times come as newspapers worldwide seek ways to grow as more people turn to the internet and other sources. The U.S. newspaper industry’s revenue has fallen by more than a third since 2005, its best year, and employed roughly a third fewer professionals in 2013 than it did at its peak in 1989.

 

The new "free sheet" will focus on providing news to business-savvy readers to compete with MediaCorp Pte’s Today newspaper, two of the people said.

 

Shares of Singapore Press have dropped 5.8 percent in the past six months, compared with the 0.8 percent gain in the country’s benchmark Straits Times Index. Pretax income from newspapers and magazines, its biggest business group, has fallen for four straight years, according to data compiled by Bloomberg.

 

A continued decline of media revenue and net income from the third quarter is expected when Singapore Press releases its full-year earnings results, Morgan Stanley analyst Xin Jin Ling said in a report this month. Circulation revenue is also expected to fall slightly as a price increase is offset by a decline in daily circulation, the analyst said.

 

The New Paper was started almost three decades ago and presents news in an "easy-to-read, pop style" for younger adults and busy readers, according to its website. My Paper was started in 2006 as the city-state’s first free Chinese paper, and reintroduced less than two years later offering news in both English and Chinese, targeting young, bilingual professionals, its website showed.

 

 


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#2

Posted 12 October 2016 - 03:30 PM

Celicar
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Anyone got insider news?

Yes, the "three people with knowledge of the matter" who may be the subject of an internal SPH man hunt (not the beauty pageant kind) now, to be added to the list of people to be chopped if they are not already on it.  


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#3

Posted 12 October 2016 - 03:40 PM

Jman888
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i dun think it is major, probably very small headcount. 


骑白马的不一定是王子,可能是唐僧;带翅膀的也不一定是天使,有时候是鸟人。

#4

Posted 12 October 2016 - 04:08 PM

Mustank
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Coe no $1
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#5

Posted 12 October 2016 - 04:23 PM

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Small ikan bilis are the most likely to kene chop.

 

Big head fish still enjoying life.


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Refer to signature guidelines

#6

Posted 12 October 2016 - 04:31 PM

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    • The New Paper, My Paper will merge to form a ‘free sheet’
    • Company also plans to cut workforce by as much as 10 percent

     

     

 

I suggest new name to be - My New Free paper.

 

This will save them spending like $400,000 to get

 

a new name like Marina Bay.

 

:D


The Secret to Happiness
is to Simplify and
not to Multiply.

#7

Posted 12 October 2016 - 04:43 PM

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I suggest new name to be - My New Free paper.

This will save them spending like $400,000 to get

a new name like Marina Bay.

:D

4266c634657917c478869b4ad421c378b91162ac
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#8

Posted 12 October 2016 - 04:47 PM

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After chopping those 10%, hope I get better dividend...

 


"..why do you want buy Playboy now if you can go into the internet? You get more than what you get in Playboy.."- LKY, 2009 NatGeo.

#9

Posted 12 October 2016 - 04:50 PM

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2016-10-12_16-49-15.png


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#10

Posted 12 October 2016 - 04:55 PM

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post-100773-0-94654400-1476262211_thumb.

 

Hard up zone member really cannot read.

 

They are some of the dumbest ducks 

 

around. Right bunch of idiots.

 

:D


The Secret to Happiness
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not to Multiply.

#11

Posted 12 October 2016 - 04:58 PM

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The company also plans to cut 5 percent to 10 percent of its workforce, mostly part-time workers, two of the people said. 

 

 

sph owns sgcarmart also guys....  

 

 

chop the newspapers guys man... who cares.. .i spend more time here... get faster info , more interesting opinions some more...  


Edited by SuPerBoRed, 12 October 2016 - 05:01 PM.

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#12

Posted 12 October 2016 - 06:01 PM

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The company also plans to cut 5 percent to 10 percent of its workforce, mostly part-time workers, two of the people said.


sph owns sgcarmart also guys....


chop the newspapers guys man... who cares.. .i spend more time here... get faster info , more interesting opinions some more...

Like that are the mcf forum Admins safe? Mthe mods should be safe,since they don't cost anything.
Noob79 praised this
You have eaten 10 curry puffs, 4 cakes and a tao sar boa.
You have drunk 10 cokes, and a jug of sarsi and I don't know how.
All you do is waddle, when the others run.
Eat a little less, play a little more.
You will find that life is a lot more fun than it was before.

#13

Posted 12 October 2016 - 06:03 PM

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no recession ... mai spread fear ... no $1k coe yet ... lol
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#14

Posted 12 October 2016 - 06:11 PM

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The company also plans to cut 5 percent to 10 percent of its workforce, mostly part-time workers, two of the people said. 

 

 

sph owns sgcarmart also guys....  

 

 

chop the newspapers guys man... who cares.. .i spend more time here... get faster info , more interesting opinions some more...  

 

Hope no one on MCF staff get chopped.

 

:D


The Secret to Happiness
is to Simplify and
not to Multiply.

#15

Posted 12 October 2016 - 06:15 PM

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Anyway , TNP news are mainly source from the Internet and untionged from sin Ming n wan bao..
All the reporters there also CMI..
MCFers much more better than them..some more free ..
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#16

Posted 12 October 2016 - 07:06 PM

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After chopping those 10%, hope I get better dividend...


Good news for shareholders.
I also own SPH.
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#17

Posted 12 October 2016 - 07:08 PM

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Good news for shareholders.
I also own SPH.


Unlikely lah... They will keep the profits for emergency cash :D
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Rich: is not about how much you have, but how much you give.

The sky has turned brighter.
There's a glorious rainbow that beckons those with a spirit of adventure and there are rich findings at the end of that rainbow.
Find that rainbow, go ride it.

#18

Posted 12 October 2016 - 07:39 PM

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Massage adverts how?
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Garage36.com

#19

Posted 12 October 2016 - 08:17 PM

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Curious. How come the attitude to this news is generally orbi good or nonchalance whereas other retrenchment news are usually met with sympathy?

Anyway, business is business. When your business is parroting govt propaganda and sensationalising stories, I guess the business case just doesn't exist anymore when we can just visit blogs or forums for the same or better info.

Similarly, who would buy fhm when you can get better quality photos of better quality girls on Instagram and Facebook?
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That is all.

#20

Posted 12 October 2016 - 08:34 PM

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Part and parcel of company restructuring. People have to be flexible and learnt to be resilient.


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