SINGAPORE, Sept. 1 -- Mediacorp, Singapore's national media network and parent company of news site CNA, is cutting 93 jobs in an organisation-wide retrenchment exercise.

The move, which affects just over 3 per cent of its workforce, is aimed at helping the company "adapt to the rapidly evolving media landscape and to better align its operations amid the prevailing economic and commercial uncertainty," Mediacorp said in a statement today.

The company added that staff affected will have until the end of September to apply for other roles within the organisation. If unsuccessful, their last working day will be on September 30.

It also said that employees who are laid off will receive severance pay of one month per year of service, capped...