MANILA, Philippines — ABS-CBN Corp. will lay off about 200 employees, or roughly 7% of its workforce, as the media company grapples with weaker advertising revenues and consumer spending.
The company announced the retrenchment Tuesday, September 15, citing a difficult year for the content industry and persistent economic challenges that have weighed on its recovery.
ABS-CBN said the conflict in the Middle East, elevated inflation and low economic growth have contributed to weaker advertising and consumer spending.
“These events have affected our recovery efforts, and we expect these challenges to continue,” the company said.
The job cuts come as ABS-CBN continues efforts to rebuild its business and reposition itself as a “global storytelling company” following years of financial and operational setbacks.
The company’s financial difficulties persisted in the first half of 2026, when its consolidated net loss more than doubled to P1.83 billion from P852 million a year earlier.
ABS-CBN’s consolidated revenue fell 17% to P6.88 billion in the six months ended June, reflecting lower revenues across its businesses.
The company attributed part of the decline in advertising revenue to the absence of election-related advertising that had boosted its revenues in 2025.
It also pointed to global developments and economic conditions that weakened consumer sentiment and further pressured its businesses.
Despite the financial strain, ABS-CBN reduced its consolidated operating expenses by 5%, or P482 million, to P8.46 billion during the first half.
The latest retrenchment underscores the continuing challenges facing ABS-CBN as it works to stabilize its finances and rebuild growth in an increasingly competitive media landscape.
“We know this will deeply affect our employees and their families,” ABS-CBN said, adding that it would manage the process with compassion for its “Kapamilya.”
— The Summit Express
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