Bye bye My Paper, hello The My New Paper Paper.

Singapore Press Holdings (SPH) announced that it will implement a retrenchment right-sizing exercise across the SPH Group, which involves a staff reduction of up to 10 percent over two years.

Check out what Alan Chan, Chief Executive Officer (CEO) of SPH, said:

"We have had to take difficult decisions on cost control measures to improve operational efficiency. We will continue to innovate and invest in our media products to stay ahead and relevant".

Unfortunately, it is not even staying ahead of the own news that it has control over.

Here’s what I’m hearing from peeps at the SPH townhall: TNP and MyPaper will merge, to be free in Dec.

— Aloysius Low (@longadin) October 17, 2016

Yes, the SPH townhall announcement is being out-scooped by a SPH alumnus, who is now a Senior Editor at CNET. According to his LinkedIn profile, Low spent more than three-and-a-half years at SPH magazines.

The news about right-sizing and a 10 percent staff reduction in the next two years?

There will be a 10 percent staff reduction over the next two years. (Good luck)

— Aloysius Low (@longadin) October 17, 2016

Straits Times, Zaobao, Business Times are profitable in the digital front. (Seriously, they should have caught the digital wave 6 years ago)

— Aloysius Low (@longadin) October 17, 2016

We heard it an hour ago from Low.

Anyway, Warren Fernandez, Editor-in-Chief of English/Malay/Tamil Media group, is understandably quite optimistic about the The My New Paper Paper merger:

"Merging TNP (The New Paper) with My Paper, making it free and increasing its circulation to up to 300,000 copies, is a bold decision to serve our readers with a strong product and with revamped content. TNP has a long tradition of remaking itself to stay attuned to readers' interests and needs.

That's part of its DNA. So now, we're making it new again, and planning a product that we believe both readers and advertisers will find appealing. The New Paper, Oct 17"

Warren F is saying the combo will allow SPH to dominate the free online space. (HAHAHA you already missed the boat)

— Aloysius Low (@longadin) October 17, 2016

All we can say is one of them will be right -sized in two years' time.

Top photo from Getty Images

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