ProSiebenSat.1 Announces Layoffs

ProSiebenSat.1 Media is eliminating some 430 full-time positions as it continues its restructuring, shifting its focus to its entertainment operations and scaling its digital transformation.

The company said the cuts will be carried out via a voluntary redundancy program, with the company projecting restructuring costs in the mid- to high double-digit million euro range in Q2.

Bert Habets, group CEO of ProSiebenSat.1 Media, commented, “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.”