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ProSiebenSat.1 Media Cutting 430 Roles As Shareholders Jockey For Position
ProSiebenSat.1 Media is cutting 430 roles at the cost of "mid to high double-digit million euros," as the battle for the company's future rolls on.
ProSiebenSat.1 Media is eliminating 430 roles at the cost of “mid to high double-digit million euros,” as the battle for the German TV giant’s future continues. ProSieben is under pressure from major shareholders MediaForEurope (MFE), which launched a lowball takeover offer back in March, and PFF, who both consider the speed of change to be too slow. The approximate 430 full-time job cuts will be “carried out in a socially responsible manner through a voluntary redundancy program,” which will follow talks with employee representatives and look likely to be begin shortly in “second quarter of 2025.”
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