SINGAPORE – Yahoo is reportedly letting go of its editorial and social media teams in Singapore as it moves towards the curation of content here.
The digital news publication, which uses a mix of third-party and original reporting, will be laying off some staff in Singapore.
The Straits Times understands that the decision stemmed from a thorough evaluation by Yahoo, which found that its partner content has consistently driven engagement.
The Edge Singapore reported on April 29 that 17 employees are affected by the shift in Yahoo’s strategy, and will leave the company after May 7.
They will receive slightly more than two weeks’ pay per year of service, reported The Edge Singapore, citing an anonymous source. Affected staff had met a human resources representative on April 23.
Under its new strategy, Yahoo is hiring three “curation editors” and a market lead for Yahoo News Singapore.
Newsrooms contributing syndicated content to Yahoo include HuffPost, AFP News, Reuters, EdgeProp and The Edge Singapore.
Workers who were laid off were told that they can apply for the new roles, reported The Edge Singapore.
A Yahoo spokesperson told ST that the company is shifting its editorial strategy to better align with strategic priorities for Yahoo Singapore.
“Readers can expect to continue seeing the content they most regularly engage with and enjoy. We remain focused on delivering a diverse selection of high-quality and engaging news, lifestyle and finance content, from local and international sources,” said the spokesperson.
Responding on the evening of April 30 to ST’s queries sent to the Ministry of Manpower (MOM) and National Trades Union Congress on April 29, the Taskforce for Responsible Retrenchment and Employment Facilitation said it is monitoring Yahoo Singapore Digital Marketing’s retrenchment exercise, referring to the company’s full name.
“NTUC’s e2i (Employment and Employability Institute) and Workforce Singapore will assist Yahoo to help affected employees by providing career advisory and employment facilitation services,” it said.
The task force was set up in 2016 to help retrenched workers and encourage employers to conduct retrenchment exercises responsibly. It comprises representatives from the MOM, Workforce Singapore, NTUC and NTUC’s e2i.
In 2022, Yahoo laid off seven journalists based in Singapore. It also had a retrenchment exercise here in 2016.
ST understands that while the business here moves towards content curation, the vast majority of Yahoo News sites will still use a mix of third-party and original content, and the company will also continue to invest in Asia.
Separately, in February 2023, the US media giant said it will eliminate about 1,000 jobs, or roughly 12 per cent of its headcount. That was its first round of cuts in a larger plan to restructure its advertising tech division.
