The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Publishing Of Information; Production And Programming Of Audiovisual Programming And Broadcasting Activities 60 - Programming and broadcasting activities
127 jobs Number of planned job losses
Announcement Date
28 January 2011
Employment effect (start)
Foreseen end date
Description
Telecinco has announced that it will cut 127 jobs as a result of the merger with Sociedad General de Televisión Cuatro, Unipersonal (Sogecuatro). As of January 2011, there is no information on where and when the job losses will be implemented.
Some 69 jobs will be cut in Sogecuatro and another 58 in the the Companía Independiente de Noticias de Televisió S.L. Unipersonal. This is the first staff reduction since Telecinco merged with television channel Cuatro (Sogecable group ) in December 2009.
The works councils have not issued any statement yet. However, at the time of the merger, the works councils of both enterprises asked the management to implement the restructuring process without any job cuts.
Sources
28 January 2011: Expansión
28 January 2011: Público
Citation
Eurofound (2011), Telecinco, Merger/Acquisition in Spain, factsheet number 71536, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/71536.
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