Economic Development Board in touch with ONE Championship after layoffs

In an interview with CNA, a retrenched staff member revealed that rumors of the impending retrenchment had been circulating for weeks. The entire company was summoned to a virtual meeting with Mr Sityodtong, a departure from the norm, signaling potential layoffs. About 30 to 40 employees in the Singapore office were let go, receiving a compensation package of two weeks’ pay for every year of service, one month of notice-period pay, and encashed leave.

Full Article