Germany’s ProSiebenSat.1 is to cut 430 jobs as part of the company’s digital transformation and renewed focus on the entertainment business.
The job cuts will be carried out through a voluntary redundancy programme agreed with employee representatives.
The company has set aside a provision for restructuring in the mid to high double-digit million euro range.
ProSiebenSat.1 said the cuts would help to streamline the company’s structure and to increase cost efficiency.
“The impact of the reduced material and personnel expenses will be particularly visible in the second half of 2025 and is expected to amount to a mid double-digit million euro amount for the full year,” said ProSiebenSat.1 in a statement.
ProSiebenSat.1 operates free-to-air and pay-TV channels in Germany, Austria and Switzerland, including ProSieben, Sat.1 and Kabel 1. It also runs the Joyn streaming platform.
Earlier this year, ProSiebenSat.1 lowered its earnings and revenue forecast for 2025 following the sale of e-commerce platform Verivox, which was part of its strategy to refocus on the entertainment business.
The cost cutting move comes just weeks after MFE-MediaForEurope (MFE), the TV group controlled by Italy’s Berlusconi family, launched a takeover bid for ProSiebenSat.1.
Bert Habets, Group CEO of ProSiebenSat.1 Media SE, said: “We have a clear strategy and are implementing it consistently. At the same time, the economic environment remains very challenging for us. This makes it all the more important that we continually strengthen our competitiveness and improve our cost structure. Against this backdrop, the announced job cuts are a difficult but necessary decision. In order to adapt to the profound structural change in the media industry and return to sustainable growth, we must become even faster, more efficient, and more digital. With our new structure and the planned measures, we are setting the course for this.”
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