Creative Technology Cuts Workforce Amid Global Wave of Tech Layoffs

Home-grown electronics firm Creative Technology has retrenched about 40 staff, or 14 per cent of its workforce, as the tech layoff wave continues its rampage, The Straits Times has learnt.

- Irene Tham

Confirming the layoffs, a company spokesman said: "Creative Technology has undertaken a decision to restructure parts of its business to adapt to the evolving market conditions. As part of this transformation, it had to undergo a staff retrenchment exercise."

The spokesman, however, declined to confirm the number of affected staff, and whether they are all located in Singapore.

According to its corporate website, Creative has more than 280 employees worldwide – a fraction of the size of the company's workforce during the boom years of the 2000s.

ST understands that the restructuring affected several departments, including sales and marketing.

"This decision was not taken lightly as our employees have been the heart of our company, and we deeply appreciate the hard work, dedication and passion they have brought to our organisation," said the spokesman. He added that the firm would support affected staff through the exercise, which was conducted in line with the Manpower Ministry's guidelines.

"We believe this restructuring will allow us to build a stronger, more sustainable future; one that ensures long-term success for our company, our employees and the customers we serve. We are committed to working to get Creative back on a sustainable trajectory ahead," he said.