‘Difficult but inevitable:’ ABS-CBN announces retrenchment of workers starting August 31
ABS-CBN Corporation will be saying goodbye to some workers by next month.
The broadcast firm announced its plan to shut down operations of some businesses and lay off workers by the end of August. The decision came after Congress refused to grant the network a fresh franchise to resume operations.
“With the non-renewal of its congressional franchise, ABS-CBN is now forced to cease the operations of some of its businesses and implement a retrenchment program covering ABS-CBN and its subsidiaries effective end of business day on 31 August 2020,” the network said in a statement posted on Twitter.
The network said it was doing everything to cushion the “pain” to be felt by the affected workers. Separation and retirement benefits as well as job placement programs will be offered to the workers.
“The loss of their jobs comes at a time when the uncertain and perilous impact of the COVID 19 pandemic further makes our decision truly difficult, but inevitable,” the network said.
ABS-CBN said the retrenchment program is “the only way to ensure the continued employment of the rest of our Kapamilya.” It also thanked the workers for their service and offered prayers for their family in the face of challenges.
“For those who are affected, we pray for you and your families, that you may have the strength and guidance to deal with the challenges ahead. For all that you have done for ABS-CBN, maraming salamat po,” the network said.
ABS-CBN announces that it will layoff workers starting August 31 after 70 lawmakers voted to kill the Kapamilya network’s broadcast franchise application. pic.twitter.com/G80usNQMKH
— ABS-CBN News (@ABSCBNNews) July 15, 2020