SINGAPORE: Changi Travel Services (CTS) will retrench some 30 employees as part of a business and operational restructuring.
The company, which offers travel services such as Wi-Fi routers, SIM cards and airport transfers, said the move comes after a "strategic review amid evolving market conditions".
Responding to CNA's queries on Friday (Aug 22), a CTS spokesperson said that the company's decision was made "after careful consideration and is aimed at strengthening CTS’s positioning and ensuring sustainable growth".
Affected employees will receive a severance package of four weeks for each year of service, with no minimum service period.
The company will also help affected employees find suitable job vacancies at Changi Airport and other locations, the spokesperson added.
"Following the restructuring exercise, our focus now is to execute on our strategy to ensure sustainable growth."
CTS was established in 2012 as a subsidiary of Changi Airport Group. It operates various brands such as Changi Recommends, Travel Recommends and ChangiFX.
A check on market intelligence portal EMIS showed that CTS had just over 80 employees as of last September. CNA has asked CTS for more information on the size of its current workforce.
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The company, which offers travel services such as Wi-Fi routers, SIM cards and airport transfers, said the move comes after a "strategic review amid evolving market conditions".
Responding to CNA's queries on Friday (Aug 22), a CTS spokesperson said that the company's decision was made "after careful consideration and is aimed at strengthening CTS’s positioning and ensuring sustainable growth".
Affected employees will receive a severance package of four weeks for each year of service, with no minimum service period.
The company will also help affected employees find suitable job vacancies at Changi Airport and other locations, the spokesperson added.
"Following the restructuring exercise, our focus now is to execute on our strategy to ensure sustainable growth."
CTS was established in 2012 as a subsidiary of Changi Airport Group. It operates various brands such as Changi Recommends, Travel Recommends and ChangiFX.
A check on market intelligence portal EMIS showed that CTS had just over 80 employees as of last September. CNA has asked CTS for more information on the size of its current workforce.
Continue reading...