StarHub to slash 300 jobs under transformation plan
Singapore’s second-largest telco, StarHub, has announced that 300 employees out of its 2,500 workforce will be made redundant.
The terminations will start at the end of this month, and “primarily affect non-customer-facing functions”.
The cuts are part of an “operational efficiency programme”, intended to strategically transform the company even as it grapples with intense competition — from new streaming services such as Netflix, and an incoming fourth telco in Singapore, Australia’s TPG Telecom — as well as rising costs.
As part of this transformation, StarHub is looking to invest in new business areas, such as cybersecurity.
“Our revised operating structure will be best placed to meet our strategic intent, enhance customer experience, increase accountability and effectiveness and improve competitiveness and agility,” said Peter Kaliaropoulos, StarHub’s CEO who officially stepped into the post in July this year.
Perhaps the most prominent role impacte by the restructuring is that of Chief Strategic Partnership Officer, Jeannie Ong.
Her role has been absorbed into the newly-created position of Chief Corporate Officer, which has been taken up by former general consel and company secretary, Veronica Lai.
“The redundancy is not an individual performance issue but one of strategic realignment of StarHub. We have been extremely fortunate to have many competent people in our team including Ong, but some positions are not sustainable given the current industry pressures,” said Kaliaropoulos.