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TODAY, published by Mediacorp Press, will become the first newspaper in Singapore to pivot to a fully-digital future, as it discontinues its print edition. This discontinuation of TODAY’s print edition, however, will mean that about 40 roles become redundant.
The media release stated that Mediacorp will explore options to redeploy the staff in these positions to other roles within the company. “Where this is not possible, eligible staff will be offered severance packages and outplacement support,” as stated by Mediacorp.
This follows a deal signed today (25 Aug), which sees Mediacorp buy back a 40% stake of Mediacorp Press held by Singapore Press Holdings since 2005. Completion of the deal is subject to regulatory approval and scheduled for the end of September 2017, coinciding with the last print edition of TODAY.
“With full ownership and control of Mediacorp Press, Mediacorp will restructure the TODAY business to better face the new digital-first media landscape,” the release stated.
In the release, Mediacorp thanked all staff of the TODAY team for their contributions.
Photo / Provided