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ProSiebenSat.1 Media SE (PSMD.XC)
- Reuters
Germany's ProSiebenSat. 1 to cut 400 jobs in push towards digital
BERLIN (Reuters) -German media group ProSiebenSat.1 will cut 400 full-time positions, the company said on Tuesday, as part of restructuring measures focusing on its entertainment activities. "The aim is to achieve a more efficient structure, a competitive cost base, and processes clearly geared to digital transformation," the company said in a statement. ProSiebenSat.1 said the company had agreed on a voluntary redundancy programme with employee representatives, with the first effects of the cuts to become visible in the fourth quarter of this year.
- Reuters
ProSiebenSat.1 planning 'significantly bigger' job cuts than before - CEO
German media group ProSiebenSat.1 is preparing to cut significantly more staff than in previous restructurings as part of a strategy to reduce costs and focus more on the entertainment business, said Chief Executive Bert Habets. "The reduction exercise that we are preparing for is significantly bigger in size than the previous restructurings that we had in our group," Habets told journalists in Frankfurt on Tuesday evening, without giving a concrete figure. With the strategy, Habets said he wants to make the group sound for the future.
