SINGAPORE: The Economic Development Board (EDB) is assisting ONE Championship after it laid off “a few dozen” employees on October 16. The agency is helping affected workers find new jobs or training opportunities.
ONE Championship said the layoffs are part of its strategy to become profitable soon. The Singapore-based company has not held events in Singapore for over a year, focusing instead on Bangkok.
EDB recognizes ONE Championship as an example of creative entrepreneurship in Singapore and previously featured its CEO, Chatri Sityodtong, in a promotional campaign.
The recent layoffs at ONE Championship are among several high-profile cutbacks, including those announced by Dyson and Samsung, and by fashion retailer Love, Bonito, which laid off nearly 7% of its global staff, including 14 in Singapore.
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