ABS-CBN to lay off 100 employees amid ongoing challenges

ABS-CBN is set to lay off employees as it continues to feel the effects of losing its franchise in 2020.

As first reported by InsiderPH on Wednesday, the Kapamilya Network held an internal meeting yesterday, where it announced its decision to lay off about 100 workers, representing roughly 3 percent of its total workforce.

In a text message obtained by Media Newser Philippines, ABS-CBN News Chief Francis Toral addressed those affected in the news division: “We know this is a very difficult time for all of us, and we appreciate your patience and understanding as we go through this challenge.”

In a statement to InsiderPH, ABS-CBN said they are “committed to providing those affected with full benefits and support and are deeply grateful for their many years of service to the company and to the public.”

Despite reported reductions in losses for the first half of the year and breaking box-office records, ABS-CBN continues to feel the financial strain caused by the non-renewal of its franchise during the Duterte administration.

There were efforts to address its financial challenges, including a supposed landmark partnership with Manny Pangilinan’s MediaQuest Holdings in 2022. However, that deal was terminated after some lawmakers raised legal concerns.