Manila Bulletin
ABS-CBN to lay off employees by August
ABS-CBN Corporation announced it will begin downscaling operations and implementing layoffs starting August 31, 2020, after its franchise bid was rejected by Congress.
The company stated that the retrenchment program is an inevitable consequence of losing its legislative franchise.
ABS-CBN aims to mitigate the impact on affected employees by providing separation and retirement benefits, along with job placement programs.
The broadcaster noted that this decision is particularly difficult given the ongoing COVID-19 pandemic and its impact on the country's already high unemployment rate.
Approximately 11,000 employees are expected to be affected by this retrenchment.
ABS-CBN expressed prayers and gratitude to those who will be laid off, acknowledging their contributions to the company.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
Veteran broadcast journalists Ces Drilon and Korina Sanchez are among the first workers laid off by ABS-CBN Corporation following the non-renewal of the network's legislative franchise.
Read more →
Presidential spokesperson Harry Roque proposed the creation of a "one-stop shop" by the Department of Labor and Employment (DOLE) to assist ABS-CBN employees who will be retrenched following the denial of the network's franchise.
Read more →
ABS-CBN Sports will cease operations by August 31, 2020, following the House of Representatives' decision to deny the renewal of the network's franchise.
+1
Read more →
Senator Ronald dela Rosa advised ABS-CBN employees to find other jobs to survive if Congress denies the media network a new franchise.
Read more →
The denial of a new franchise for ABS-CBN will significantly impact the Philippine economy, extending beyond concerns for press freedom.
Read more →