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Singapore Press Said to Merge Two Newspapers, Reduce Workforce

  • The New Paper, My Paper will merge to form a ‘free sheet’
  • Company also plans to cut workforce by as much as 10 percent
A man reads a newspaper with an image of former prime minister Lee Kuan Yew in Singapore in March 2015.

A man reads a newspaper with an image of former prime minister Lee Kuan Yew in Singapore in March 2015.

Photographer: Mohd Rasfan/AFP via Getty Images

Singapore Press Holdings Ltd., Southeast Asia’s biggest newspaper publisher by market value, plans to merge two of its tabloids to form a new free-distribution publication as part of a restructuring effort, three people with knowledge of the matter said.

The publisher is planning to merge The New Paper and My Paper, they said, declining to be identified because the information isn’t public. The company also plans to cut 5 percent to 10 percent of its workforce, mostly part-time workers, two of the people said. Deputy Chief Executive Officer Patrick Daniel is planning a town hall with employees to discuss the restructuring following the announcement, which could come as soon as Thursday, the people said.