Broadcast and cable network CNN Philippines will reduce the size of its team in the wake of the on-going pandemic, a report said on Thursday, Feb. 11.
The move will take effect on March 16, 2021 based on a memo released by the human resources department of the network, according to the Facebook site of Buhay Media.
CNN Philippines said while it was “adjusting and reducing” its expenditures, it also had to “incur unexpected expenses to support the uninterrupted employment” and protect the health and well-being of its staff.
“Unfortunately, these measures were not enough.” That is why the network decided to “further lower our costs by reducing the size of our team effective March 16, 2021.”
“This has been a very difficult decision but one that needs to be done so we can continue to serve our audiences as a trusted source of news and information on free TV and digital,” the memo read.
The media company said it will talk to those who will be affected by the downsizing to discuss how they can best support them as they move on.
“We also want to take this opportunity to thank them for their contribution and service,” it added.
The memo did not say how many people will be affected by the company’s new cost-cutting measure.