One of the major telcos in the Republic of Singapore, Starhub is planning to lay off 300 full-time employees by the end of this month, October.
Jeannie Ong, Chief Strategic Partnership is among the staff that is affected by this layoff. Citing it as an “Operational Efficiency Program,” the company stated that the layoff would affect non-customer-facing roles. The overall transformation drive is expected to actualize S$210 million in savings from 2019 to 2021. Other areas where it could cut down manpower include procurement activities, leasing costs, network and systems repair and maintenance, and sales and distribution.
While the company is eliminating various roles, but it is also stated that as a part of the strategic transformation plan, the company will focus on and invest in areas such as new businesses, digital customer service initiatives, enterprise-oriented information and communications technology solutions, and wireless and fiber services. The plan also includes hiring more employees in fields such as cybersecurity, home and enterprise solutions, and customer care.
StarHub Chief Executive, Peter Kaliaropoulos cited a list of challenges for the company - "the intense competitive ferocity right across the market, new entrants, lower voice revenues, thinning margins for fixed broadband services, high content costs for pay-television operations and high market penetration for mobile and fixed services." He further said that StarHub must transform its operating model to face these challenges.