Sky Italia ‘we must cut another €150m’

sky-italia-hqSky Italia will have to make big additional savings, as costs have grown  but there’s been a two per cent drop in revenues over the four past fiscal years.

These are the main points of an email from the executive VP of operations and business, Pietro Maranzana, to about 150 top managers of Sky Italia. The email was leaked to Italian online daily “Lettera 43”.

Maranzana explains the pay-TV operator has been forced to re-examine the cuts already decided  for financial year 2013-2014 (the company closed its financial statements to June 30th), and which provide savings of approximately €100 million.

Sky Italia has decided to seek the advice of Deloitte for the development of a new plan, called “Genesis”, with the ambitious goal of making further savings of €150 million over the next two financial years.

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