Singapore, 18th August: Singapore Press Holdings (SPH), a media group, unveiled plans to restructure its media sales and magazines operations as part of its overall “media transformation roadmap.” Management also noted that the group’s advertising revenue has been significantly impacted by COVID-19 pandemic.

Beginning late last year, SPH’s management conducted a strategic review of its media business with the aim of providing SPH’s advertisers with more effective marketing solutions. In addition, according to the company, it has reviewed its costs, cut back on discretionary spending and instituted pay cuts for senior management (since the COVID-19 outbreak). Beginning in March, the company’s directors, the CEO and other senior managers took pay cuts of between 5% and 10%.