Business · Philippines Bureau
ABS-CBN to cut 200 jobs as media industry faces downturn
The Philippines' largest entertainment conglomerate announced a new round of workforce reductions Tuesday, affecting roughly 7 percent of its staff. The network cited challenging market conditions and declining advertising revenue as drivers of the decision.
LSN Philippines ·
ABS-CBN Corp. will proceed with a retrenchment program affecting approximately 200 employees across its operations, the media giant confirmed in a statement released Tuesday. The layoffs represent about 7 percent of the company's total workforce and underscore mounting pressure facing the broadcast and content production sector.
The network attributed the decision to what it described as a "difficult year for the content industry," marked by sustained weakness in advertising spending and consumer demand. These headwinds have squeezed revenues across traditional media and digital content platforms throughout the region.
The announcement marks another significant reduction in personnel for ABS-CBN, one of the Philippines' dominant media and entertainment operators. The company has not provided specific details regarding which departments or divisions will be most affected by the cuts, nor has it outlined a timeline for implementing the layoffs.
The retrenchment reflects broader challenges facing media companies in Southeast Asia as digital platforms reshape advertising markets and consumer viewing habits continue to shift away from traditional broadcast television.