This is the latest blow for workers of the beleaguered media company.
In a report by media industry publication Media Newser Philippines, it revealed that ABS-CBN International, the Kapamilya network’s subsidiary operating its foreign outlets like The Filipino Channel (TFC), has also been hit by budget cuts being implemented across the corporation.
The primary casualty of the move is the network’s North America bureau that produces the program TFC News.
Through which, reports are filed for the the global TV channel, ABS-CBN News’ digital platforms, ANC and the network’s flagship newscast ‘TV Patrol’ based in Manila.
The undisclosed amount of full-time staffers to be affected are from the TV and news production groups, the said report stated.
Instead, the network will be hiring them on “om an as-needed basis,” Media Newser wrote.
At the moment, ABS-CBN has not yet issued a statement regarding the report.
However, it has recently axed 100 jobs in its Manila headquarters due to dwindling advertising and pay TV revenue.
Excluding Sky Cable Corp., ABS-CBN said in its 2024 annual stockholders meeting that it has trimmed its losses to Php 994 million during the first quarter of 2024, versus the Php 1.2 billion that it set during the same period in 2023.
Year on year, ABS-CBN’s net loss was at Php 12.8 billion in 2023, versus the Php 2.6 billion net loss in 2022.
Content revenue, meanwhile, increased from Php 10.7 billion in 2022 to Php 11.3 billion in 2023. Although, consolidated revenue was down from Php 4.26 billion in 2022 to Php 4.08 billion in 2023.