Layoffs start end- August for ABS-CBN

MANILA, Philippines — After being denied a new franchise, media giant ABS-CBN Corp. will start laying off its workers on Aug. 31.

In a statement, ABS-CBN yesterday said it is forced to cease some business operations and implement a retrenchment program covering the network and its subsidiaries.

“We are doing all we can to mitigate the pain that will be felt by those affected, including paying out separation and retirement benefits and providing job placement programs,” it said.

“The loss of their jobs comes at a time when the uncertain and perilous impact of the COVID-19 pandemic further makes our decision truly difficult, but inevitable,” it added.

ABS-CBN said the implementation of the retrenchment program is the only way to ensure the continued employment of the rest of its workforce.

“For those who are affected, we pray for you and your families, that you may have the strength and guidance to deal with the challenges ahead. For all that you have done for ABS-CBN, thank you very much,” it said.

ABS-CBN went off the air on May 5 in compliance with a cease and desist order issued by the National Telecommunications Commission following the expiration of the network’s franchise.

ABS-CBN president Carlo Katigbak earlier told lawmakers that the company is losing P30 to P35 million in advertising revenues daily with the shutdown of its TV and radio operations.