ONE Championship Announces Employee Layoffs

ONE Championship, the Singapore-based mixed martial arts organization, has laid off a few dozen employees as part of a strategic plan to achieve profitability. The layoffs, announced on October 16, affect various departments including broadcast, e-sports, finance, marketing, and public relations, with over 20 positions reportedly cut from the Singapore office alone. CEO Chatri Sityodtong highlighted the challenging external macroeconomic environment as a factor in this decision, which follows a previous staff reduction in 2020 during the COVID-19 pandemic. The company raised at least $50 million earlier this year, valuing its parent company, Group ONE Holdings, at about $1.35 billion. This restructuring indicates a cautious approach as ONE Championship aims to streamline operations and focus on long-term sustainability amid broader industry layoffs. The organization continues to maintain a presence in multiple global markets despite these changes.