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Isentia axes eight jobs from the defunct King Content in Singapore

Troubled media monitoring company Isentia Singapore has let go more than half of its content division staff following the axing of King Content.

The Australian company, which controversially bought the agency in a deal worth US$48 million two years ago, told eight of King Content Singapore’s 15 remaining staff they were to lose their jobs yesterday.

Isentia refused to reveal the fates of the other seven staff members, but it is understood the company is attempting to redeploy them to other markets.

Isentia declined to give an official statement on the issue when contacted by Mumbrella Asia.

The cull comes three months after Isentia decided to axed the King Content brand, writing off US$37.8 million of its investment, and two weeks after the company announced it would exit the content marketing business altogether. 

The move also follows a steady trickle of bad news and senior departures for King Content over the last 10 months. Since January, the agency has seen its commercial officer Peter Bakker and strategy heads Daniel Hochuli and Hedvig Lyche walk away.

In addition, despite Asia’s revenues acting as a bright spot for Isentia with an increase of 16 per cent to US$32.9 million this year, the rest of the business faced “disappointing losses” leading to the closure of its offices in Hong Kong and New York.

Although the company maintained that the Singapore office would continue on, the latest wave of redundancies has cast doubt on that claim.

The agency recently lost two major accounts: the Economic Development Board (EDB) and Changi Airport Group, but is still said to have contracts with the National University of Singapore, Goodman Fielder and AIA.

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