Singapore Press Holdings reduces staff costs following reported job cuts

In its 1Q2018 results, Singapore Press Holdings (SPH) has shown a reduction in staff costs following its planned job cuts last year. In fact, staff costs has dropped by S$4.4m - contributing to a 5.5% reduction in total operating costs. However, its premises and finance cost increased by $1.8m and $1.3m respectively.

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Additionally, the headcount as at end-November (excluding increase from new acquisitions) is at 3,783. In a year-on-year comparison, headcount was 4,107 in 1Q2017. On that note, SPH has achieved 10% headcount reduction against August 2016 (when the headcount was 4,182).

Lead Photo / Singapore Press Holdings

Table / Singapore Press Holdings