ProSiebenSat.1 axing 400 staff
July 18, 2023
ProSiebenSat.1, the German broadcasting group, has announced it will be cutting 400 full-time positions as part of restructuring measures focusing on its entertainment activities.
In a press statement, ProSiebenSat.1 said that “a realignment of the organisation is now taking place” after acquiring the streaming platform Joyn in 2022. The aim is to” achieve a more efficient structure, a competitive cost base, and processes clearly geared to digital transformation. This is a priority in order to continue investing consistently in the future of the Group, especially in content and digital offerings”.
The group said that job cuts will be made in a socially responsible manner through a voluntary redundancy programme in order to avoid compulsory redundancies as far as possible. The company had agreed on this in talks with employee representatives.
Bert Habets, Group CEO of ProSiebenSat.1 Media, commented: “In a constantly changing media industry, it is only logical that we have realigned our strategy and are constantly questioning our own positioning. In addition, we have to operate in an extremely challenging economic environment for the fourth year in a row. It is therefore imperative that we significantly reduce our material and personnel costs. The job cuts are a difficult but entrepreneurially necessary decision, so that ProSiebenSat.1 can increase its earning power and grow sustainably and healthily again.”
“2023 is the year of realignment for our Group,” Habets continued. “We have a clear plan with a focus on our entertainment offering and especially on Joyn. This way, we want to become the number one in the German-speaking entertainment market as a Group. And we have now created an agile setup as well as headroom for investments again. This was absolutely essential as a basis for implementing our growth strategy.”