400 jobs affected
ProSiebenSat.1 is cutting jobs in Germany
07/18/2023, 12:12 p.m
After ProSiebenSat.1 took over the Joyn streaming platform in autumn 2022, all signs point to a realignment at the media group. The company announced that this would not be possible without staff cuts.
ProSiebenSat.1 wants to cut around 400 jobs in Germany this year. That corresponds to around every tenth job in the entertainment core business and in the holding company, said a spokeswoman for the media group in Unterfoehring near Munich.
“The job cuts is a difficult but necessary business decision so that ProSiebenSat.1 can increase its earning power and grow sustainably and healthily again,” explained CEO Bert Habets. He had previously promised a three-digit job cut, but had not yet quantified it.
The former RTL manager wants to get the company around ProSieben, Sat.1 and Kabel 1 back on the road to success by cutting costs and concentrating on the entertainment business. As a result of the reduction, the Group expects personnel costs to fall by a low double-digit million euro amount this year. “The full cost effect for 2024 will be in the mid double-digit million euro range.”
The group has long announced a realignment after completely taking over the Joyn streaming platform in autumn 2022. ProSiebenSat.1 made them the focus of its entertainment business. According to the company, the organization is now being reorganized, particularly in the entertainment segment.
The aim is “a more efficient structure, a competitive cost base and processes clearly geared towards digital transformation”. The group announced that this has priority in order to be able to continue investing consistently in the future of the group, especially in content and digital offerings.
The job cuts will be carried out in a socially responsible manner through a volunteer program. Operational redundancies are to be avoided “as far as possible”. For example, positions that become vacant should not be filled.