Yahoo will be letting go of its editorial and social media teams in Singapore.
Not so yahoo for them.
17 Staff Will Be Laid Off
The Edge Singapore reported on 29 April that 17 staff are affected by a shift in Yahoo’s strategy, and will leave the company after 7 May.
An anonymous source told The Edge Singapore that affected staff will receive a little more than two weeks’ pay per year of service. One of the staff affected has reportedly worked there for more than 15 years.
Affected staff had met a human resources representative on 23 April, with Yahoo’s senior director of content, Australia, and Southeast Asia, Simon Wheeler, present.
According to The Edge Singapore, Yahoo’s sales team in Singapore is not affected by this round of retrenchment.
Yahoo Is Shifting Its Strategy
The layoff comes as Yahoo is reportedly changing its editorial strategy.
Yahoo is instead hiring three curation editors and a market lead for Yahoo News Singapore under its new strategy, which will focus on syndicated content.
Content syndication is a marketing strategy that involves republishing content on other websites or platforms to reach a larger audience.
Newsrooms contributing syndicated content to Yahoo include AFP News, EdgeProp, HuffPost, Reuters, and The Edge Singapore, among others.
This means that news you see on Reuters could also be viewed on Yahoo News.
Staff who were laid off were told that they can apply for the new roles, reported The Edge Singapore.
About The New Roles
According to Yahoo’s job listing on LinkedIn, the curation editor is responsible for the content of the Yahoo homepage, ensuring they deliver the best possible content mix and user experience.
The job will be remote and will involve staggered hours with a working week that encompasses some weekend working, including early mornings, late nights, and public holidays.
The market lead will be responsible for Yahoo News in Singapore and will police output to ensure content meets the company’s editorial standards.
This mid-senior level role will focus on curating the best articles from the company’s pool of content providers, and also requires someone who is willing to work non-traditional hours.
Yahoo’s Recent Retrenchment Exercises
In 2022, Yahoo let go of seven journalists based in Singapore. Its last recorded retrenchment exercise before that was in 2016.
Just last year, Yahoo laid off more than 20% of its workforce in the US. The layoffs were reportedly part of a broader effort by the company to streamline operations in their advertising unit.
Yahoo instead shifted efforts to its 30-year-partnership with Taboola, a digital advertising company, to satisfy ad services.
Lazada’s Retrenchment Exercise In Singapore Earlier This Year
Earlier this year, Lazada also carried out a retrenchment exercise.
The layoffs reportedly surprised many employees, and many departments saw a drastic decrease in headcount.
As the company had not engaged in prior consultations, this matter was brought by the National Trades Union Congress (NTUC) and the Food, Drinks & Allied Workers Union (FDAWU) to the Ministry of Manpower.
Lazada then apologised and began negotiations for more satisfactory retrenchment benefits.
For the full story, read this article.
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