ABS-CBN Corp. will be laying off employees as it continues to feel a revenue pinch from the loss of its franchise four years ago.
The Lopez-led company, in a statement, said that around 100 staffers, or about 3 percent of its workforce, would be let go given ongoing challenges.'We are committed to providing those affected with full benefits and support, and are deeply grateful for their many years of service to the company and to the public,' ABS-CBN added. ABS-CBN Corp.
ABS-CBN also began ramping up content sales, co-productions, and licensing its content and library to domestic and international clients.It also widened its international reach by merging its domestic and global OTT platforms into 'iWantTFC.'It continues to utilize various third-party platforms like YouTube, Facebook, TikTok and Instagram to maximize its reach and generate advertising.ABS-CBN claimed that it had made significant progress since the loss of its franchise.
ABS-CBN To Retrench 100 Workers
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