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ABS-CBN announces "difficult decision" to lay off 100 employees

ABS-CBN explains reason for lay-off of its employees.
by Rachelle Siazon
Published Oct 17, 2024
ABS-CBN
ABS-CBN says lower ads and decline in pay TV resulted to its decision to lay off 100 employees.

Naglabas ng opisyal na pahayag ang ABS-CBN sa desisyon ng kumpanya na magtanggal ng 100 empleyado o "3%" ng kabuuan ng workforce nito.

Kagabi, October 17, 2024, natanggap ng PEP.ph (Philippine Entertainment Portal) ang kopya ng opisyal na pahayag ng ABS-CBN.

Sabi rito, ang mangyayaring retrenchment ay resulta ng mga pagbabago sa TV landscape hindi lang sa bansa kundi sa global scene.

"The TV industry as a whole has been hurt by lower consumer spending which translated into lower advertising spends.

"The company is also being affected by the global decline in the pay TV business.

"As a result, the company has made the difficult decision to retrench around 100 or about 3% of its workforce," saad sa isang bahagi ng statement.

Tiniyak ng ABS-CBN na may karampatang compensation ang pag-retrench sa mga empleyado nito.

"We are committed to providing those affected with full benefits and support, and are deeply grateful for their many years of service to the company and to the public."

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ABS-CBN PROGRESS IN BUSINESS EFFORTS

Sa isang banda, binanggit ng ABS-CBN na may "significant progress" sa iba-ibang business initiatives ng kumpanya.

"TV ratings continue to improve, Star Cinema produced two hits so far, with one of them being the highest grossing Filipino movie, and our music business has gotten a strong boost from the popularity of girl band BINI."

Ang Star Cinema ang film company arm ng ABS-CBN.

Record-breaking ang box-office success ng 2023 Metro Manila Film Festival entry na Rewind, na kumita ng PHP900 million. Co-produced iyon ng Star Cinema, APT Entertainment, at Agosto Dos Media.

Ang Un/Happy For You, na co-produced ng Star Cinema at Viva Films, ay kumita ng PHP253 million.

Ang Bini, homegrown P-pop group ng ABS-CBN, ay umalagwa ang career ngayong taon at nagpasok ng sunud-sunod na endorsements para sa kumpanya.

Read: Liam Payne, former One Direction member, dies in Argentina at 31

ABS-CBN FRANCHISE LOSS

Malaking dagok sa ABS-CBN ang pagbasura ng Kongreso sa franchise renewal application ng kumpanya noong 2020.

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Nagresulta ito sa malawakang pagbabawas ng higit 5,000 empleyado ng ABS-CBN noong August 31, 2020.

Kasabay iyon ng kasagsagan ng COVID-19 pandemic.

Read: ABS-CBN Corporation franchise renewal timeline; how much income did ABS-CBN lose in 2020?

Sa kabila ng kawalan ng franchise, mabilis na nag-pivot ang ABS-CBN at nakipag-collab sa iba-ibang TV networks at streaming sites upang magpatuloy bilang media company at content creator.

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ABS-CBN says lower ads and decline in pay TV resulted to its decision to lay off 100 employees.
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