ProSiebenSat.1 Media Cutting 430 Roles As Shareholders Jockey For Position

ProSiebenSat.1 Media Cutting 430 Roles As Shareholders Jockey For Position

ProSiebenSat.1 Media is eliminating 430 roles at the cost of “mid to high double-digit million euros,” as the battle for the German TV giant’s future continues. The redundancies come as part of ProSieben’s transformation to a digital-first business focused on entertainment. The aim is to “streamline the process structure and increase cost efficiency,” ProSieben said […]

In Germany, it is not the first group to do so and in some way it was an expected move, but in the media sector it is an important step: Prosieben will cut 430 jobs with a "voluntary redundancies program," a clear signal of the state of the country's economy and of the unsolved difficulties of a company of which Mfe-Mediaset already owns more than 30%. From the first shareholder has already launched a minimum of law Opa to be able to grow again …

ARN unveils bold three-year transformation

The Australian Radio Network (ARN) has launched a three-year transformation program aimed at slashing $40 million in costs, around 20% of the business’s cash base, to free up capital for growth-driving initiatives. The media giant made the announcement to shareholders at its latest Annual General Meeting (AGM) today at it’s North Sydney headquarters. The Numbers Net assets: $291.4m Net debt: $82.2m Undrawn debt facilities: $64.2m Total dividend:…

Group should "be faster, more efficient and more digital" and be socially compatible with job cuts. Austria CEOs: "No Big Bang".

ProSiebenSat.1 Announces Layoffs - WORLD SCREEN

ProSiebenSat.1 Media is eliminating some 430 full-time positions as it continues its restructuring, shifting its focus to its entertainment operations and scaling its digital transformation. The post ProSiebenSat.1 Announces Layoffs appeared first on WORLD SCREEN.