Media giant ABS-CBN Corp. is set to retrench approximately 200 workers, representing roughly 7 percent of its total workforce, as persistent economic hurdles continue to strain the content creation and advertising sectors.
The network announced that the decision followed a thorough internal review of its operations. The company cited a combination of reduced advertising revenues and softer consumer spending driven by Middle East geopolitical tensions, high inflation rates, and sluggish macroeconomic growth.
“However, it has been a difficult year for the content industry,” ABS-CBN noted in a statement, emphasizing that the unfavorable market environment has hindered its financial recovery efforts and may continue to impact operations.
Acknowledging the human impact of the decision, the media firm stated, “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.”
The company clarified that the downsizing initiative is designed to ensure a “strong financial footing” while it reorganizes operations and pivots toward becoming a global storytelling entity.
The workforce reductions occur even as ABS-CBN maintains active investments in its core media offerings, expanding the distribution of its television series, movies, music and live events across domestic and international channels.
Despite the job cuts, the company reiterated its focus on broadening its content portfolio and expanding its reach across emerging platforms and international markets. Executives view the organizational restructuring as a key step to navigate current headwinds and position the group for long-term sustainability within a rapidly changing media landscape.
Carlo Katigbak, president and chief executive officer of ABS-CBN, previously highlighted that the media company is actively rebuilding its business after facing consecutive years of operational and financial disruption.
The company’s consolidated net loss widened to P1.83 billion during the first six months of 2026, more than doubling the P852-million net loss recorded in the matching period a year prior, due to declining revenues. Total consolidated revenues for the first half ending June reached P6.88 billion, marking a 17 percent contraction compared to the same period in 2025.
ABS-CBN pointed out that the year-on-year drop in ad spending was partly caused by the high base effect of election-related advertising revenue present in 2025, alongside broader global economic conditions weighing on domestic sentiment.