SINGAPORE (March 18): Home-grown electronics firm Creative Technology has retrenched about 40 staff, or 14% of its workforce, as the tech layoff wave continues its rampage, The Straits Times has learnt.

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.”

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