ABS-CBN to retrench 200 workers amid 'difficult year' for industry - GMA Network

Listed media company ABS-CBN on Tuesday announced a retrenchment program covering around 200 individuals, citing a “difficult year” for the content industry amid geopolitical issues and macroeconomic concerns.

In a statement, ABS-CBN said the retrenchment program—equivalent to 7% of its workforce—is in line with efforts to keep the company on strong financial footing.

“The Middle East conflict, high inflation, and low economic growth have led to weaker advertising and consumer spending. These events have affected our recovery efforts and we expect these challenges to continue,” the statement read.

The announcement comes two years after the company laid off 100 workers due to an industry-wide decline in advertising revenues. The company also laid off about 5,000 of its then 11,000-strong workforce in 2020 when it failed to secure a Congressional franchise.

ABS-CBN reported a P1.83-billion net loss in the first six months of 2026, double the P852-million loss recorded a year ago. Revenues fell 17% to P6.88 billion, due to the absence of election-related ads.

“We know this will deeply affect our employees and their families, and we intend to manage this the way we have always done—with compassion for our Kapamilya,” ABS-CBN said.

“We are truly grateful to all our Kapamilyas for their dedication, passion, and service to the company and the Filipino people,” it added.

The company confirmed in April that one of its directors proposed shutting down the company, but the majority opposed it and “strongly argued” for continued financial support for the company’s employees, retirees, and other stakeholders.

ABS-CBN’s free-to-air broadcast business was shuttered during the Duterte administration, as the National Telecommunications Commission (NTC) ordered a stop to its various television and radio stations nationwide absent a valid congressional franchise, which lapsed on May 4, 2020. — BM, GMA News