Singapore EXPO & MAX Atria, managed by Constellar, has clocked a 95% drop in physical events since April 2020.
Constellar Holdings (formerly known as SingEx-Sphere Holdings) has made the "painful" decision to let 12% of its employees in Singapore go, citing the prolonged impact of Covid-19.
“Like the rest of the events industry, we’re facing the hard truths of huge uncertainty, cautious sentiment, low business volume and continued cost pressures. The rightsizing decision is a deeply difficult one, after considering all options and scenarios,” a spokesperson for Constellar Holdings said.
Singapore EXPO & MAX Atria, managed by Constellar, has clocked a 95% drop in physical events since April 2020, when the country introduced its first 'circuit breaker' lockdown measures.
Despite implementing swift cost reductions, tapping the government's Jobs Support Scheme and retraining talent for digital and hybrid events, the company said job cuts — 21 in total — are necessary to preserve its financial resources.
Constellar added that the exercise was conducted in close consultation with the Singapore Industrial & Services Employees’ Union and the Employment and Employability Institute to assist affected employees with advice in their career transition.
Apart from retrenchment packages based on length of service, Constellar will continue to extend medical insurance coverage to affected employees until 31 March 2022 or until they find employment, whichever is earlier.
“For a business premised on people and human connection, it is painful to part ways with our colleagues whom we have worked side by side with through good and bad times," the spokesperson added. "We cannot emphasise enough that this is not a reflection of the work of these affected individuals. For those who are impacted, we will always be immensely appreciative of their dedication and contribution.”