KUALA LUMPUR: Star Media Group Bhd plans to cut 200 staff via mutual separation scheme and early retirement option amid challenges in the media industry.
Nikkei Markets reported that, according to an internal memo, the plan came after The Star Media reported plummeting profit.
"While we continue to strive to maintain pole position in the industry, more needs to be done to rationalise our business pillars, one of which is in the area of manpower," said an internal memo sighted by Nikkei Markets.
"We need to review our human resources needs with a view of transforming ourselves into a lean organisation that would be ready to meet the increasing business challenges," said the memo dated Tuesday and signed by The Star Media chief executive Wong Chun Wai.