NTUC Media, a full-service publishing and events management agency will be shutting down its operations by the end of the year. Currently, the division has 40 staff members, most of whom will be offered jobs with another social enterprise, NTUC Link.
According to Lynette Ang, chief branding and communications Officer, NTUC Enterprise, the decision came after NTUC Enterprise, which regularly reviews the business activities, identified several critical assets within NTUC Media such as the NTUC This Week, Lifestyle and Sheng Huo publications, to serve the communications needs of the Labour Movement.
“We then worked closely with the boards of NTUC Media and NTUC Link to ascertain how we could better deliver the desired goals of these core publications in a more cost effective and sustainable way,” Ang (pictured) said.
NTUC Link will undertake these publications from 1 January 2014. It was decided that NTUC Link is in a better position than NTUC Media to undertake these publications going forward because of NTUC Link's resources and access to the 1.5 million Plus! membership base, said a statement from NTUC Link.
Reported on Channel NewsAsia, staff will receive one month's pay for every year of service with the company.
Additional benefits are also said to be given to further recognise employees' contributions.
NTUC Enterprise is a new holding co-operative set up by NTUC, Singapore Labour Foundation (SLF) and unions affiliated to both NTUC and SLF. NTUC Enterprise institutionalises the strategic partnership between NTUC, SLF and the unions to enable the NTUC Social Enterprises to do more for the working families.