One Championship lays off dozens of staff to cut costs, reach profitability
The move comes even as the Singapore-based sports promoter achieves ‘record revenues and cost efficiencies’
Add BT as a preferred source
SINGAPORE-BASED combat sports organisation One Championship has laid off “a few dozen” employees as part of a cost-cutting strategy to bring the company to profitability, The Business Times has learnt.
In an internal e-mail to staff on Wednesday (Oct 16) morning, One Championship chief executive Chatri Sityodtong said the sports promoter was “on the verge” of profitability on the back of “record revenues and cost efficiencies”, alongside strong viewership numbers.
The promoter has continued to achieve “new highs” in its key markets, especially across Asia, he said, in the e-mail seen by BT.
TRENDING NOW
Firm loses wrongful dismissal case despite following termination clause
Vietnam seeks US$76 billion a year from capital markets to ease reliance on banks
Soilbuild’s Lim Chap Huat sues Brookfield, claims it reneged on joint venture: WSJ
Citi, OCBC downgrade UOB post-Q2 results; RHB upgrades on valuation
