ProSiebenSat.1 To Cut 400 Roles As Entertainment Restructure Continues
deadline.comGermany’s ProSiebenSat.1 is cutting around 400 roles, as it continues to reshape its business as a digital-first operation.
That accounts for about 10% of its entire workforce, with the changes focused on the company’s entertainment businesses. The plan is for a voluntary redundancy program rather than compulsory redundancies “as far as possible.” ProSiebenSat.1 said this had been “agreed on this in talks with employee representatives.” The network said the “aim is to achieve a more efficient structure, a competitive cost base, and processes clearly geared to digital transformation.” This follows the acquisition of entertainment streaming service Joyn last year and more recently after a series of top-level management changes. “In a constantly changing media industry, it is only logical that we have realigned our strategy and are constantly questioning our own positioning,” said ProSiebenSat.1 Media CEO Bert Habets. “In addition, we have to operate in an extremely challenging economic environment for the fourth year in a row.
It is therefore imperative that we significantly reduce our material and personnel costs. The job cuts are a difficult but entrepreneurially necessary decision, so that ProSiebenSat.1 can increase its earning power and grow sustainably and healthily again.” MORE FOLLOWS By subscribing, I agree to the Terms of Use and Privacy Policy.
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