One Championship lays off dozens of staff to cut costs, reach profitability

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.