Yeo Hiap Seng axes 32 employees in Singapore
Change in business model, retrenchment exercise aimed at reducing group's ongoing operating costs
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Singapore
BEVERAGE manufacturer Yeo Hiap Seng (Yeo's) announced on Tuesday (Apr 5) that it has retrenched 32 employees in Singapore under its long-term plan to transform its global business.
In a bourse filing, the heritage brand said it is changing its business model in Singapore due to changing consumer patterns and retail conditions as well as increasing cost pressures.
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