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ABS-CBN Broadcasting Corp. said on Friday that it will cut its
workforce after it outsourced transmitter maintenance services to
another company.
In a disclosure to the Philippine Stock
Exchange, ABS-CBN said it will outsource the said service to
Transmission Specialists Inc. (TSI) effective March 16 to streamline
its operations.
The company said the move to outsource its
transmitter maintenance was done to control costs, improve business
efficiencies, and enhance the company’s value over the long term.
“Those affected by the outsourcing move will
be given assistance financially, emotionally, and socially such as
separation packages, training programs on livelihood opportunities
and financial management, one-on-one counseling, and microfinancing,”
ABS-CBN said.
The company did not disclose the number of the
affected employees. ABS-CBN earlier reported a net income of P1.1
billion for the first nine months of last year.
The company’s consolidated revenues rose 14
percent to P14.5 billion, driven by higher airtime revenues and sale
of services. Airtime revenues grew a robust 23 percent to P9.9
billion on the back of improving ratings and higher advertising
volume.
The company also said it will support the
Kapisanan ng mga Broadkaster ng Pilipinas (KBP) call for networks to
strictly abide by the KBP rule limiting the commercial load of
programs to a maximum of 18 minutes per hour.
The company said it would abide by the
organization’s rule despite the huge demand for ad placement
reservations.
The KBP recently issued a statement announcing
that it will strictly implement the 18-minute per hour advertising
rule among its member TV networks. Its officials said the move will
promote public interest by preventing advertising clutter.
-- Darwin G. Amojelar
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