The job cuts unveiled Wednesday were part of 400 lay-offs previously announced, about half of which had already been made. "Profits from the media business are much weaker due to digital disruption," SPH chief executive Ng Yat Chung said at a briefing announcing the company's full-year earnings. He said the "sharp reduction" of staff was needed "so we can have a media business that is leaner and more orientated to the current media environment, but (also) recognising that print still has strong legs". Despite the problems in the media sector, the chief executive said other parts of SPH's business, including its property arm, were doing well. Operating revenue for its core media business fell 13 percent during the year.

Source: The Nation Bangkok October 11, 2017 12:56 UTC