TV network to implement another round of layoffs

TV network to implement another round of layoffs

MANILA, Philippines — ABS-CBN Corp. on Tuesday said it would be laying off around 200 employees, around 7 percent of its workforce, citing a “difficult year for the content industry,” which led to weaker advertising and consumer spending. In a statement, the entertainment giant said it made the difficult decision to implement the retrenchment program to keep the company “on strong financial footing.” This was despite new investments that were supposed to help it in its efforts to rebuild and rec