Spain: Mediapro cuts 1,200 and exec pay
March 25, 2020
From David Del Valle in Madrid
Spanish TV group Mediapro has launched a Temporary Employment Regulation File (ERTE) that will affect 1,200 workers, out of a total workforce of over 7,000 in 38 countries.
In addition, Mediapro has cut salaries for its highest paid executives by 50 per cent and between 15 and 25 per cent for those managers earning over €80,000 a year.
The coronavirus crisis is having a big impact on Mediapro since 16 football leagues in the world where the company is present have been suspended. Sharp falls in the production of TV series and movies are also being a burden for the company.