French giant Canal Plus has confirmed last week’s media reports that it could lose up to to 500 staff as it responds to sectoral change. In a statement today the company said that it will nee…
In a statement today the company said that it will need to “transform its French activities…This could lead to the departure of a maximum of 492 people, conducted exclusively on a voluntary basis.” The company said this process will begin on July 15 and 16.
Canal Plus said the change is necessary in order “to respond to the upheavals of the audiovisual sector and the transformation of its businesses.” While the company pointed out in the lengthy statement that it has pursued international growth and digital investment in the face of market change, the company said these adjustments are “unfortunately still insufficient because the transformation of our sector has been like a revolution due to global platforms, which are digital natives and international in scope, and have considerable financial strength and have managed to escape the fiscal and regulatory constraints on the wider economy.
The pay-TV giant has faced pressure from a declining subscriber base at home and deep-pocketed competitors for sports rights. It now has fewer domestic subscribers than
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