Media giant ABS-CBN Corp. is set to lay off approximately 200 employees, representing roughly 7 percent of its total workforce, as it continues to grapple with persistent challenges in the content and advertising sectors. The company announced the retrenchment program following a comprehensive review of its operations, pointing to a severe slump in advertising revenue and weakened consumer spending driven by elevated inflation, sluggish economic growth, and ongoing geopolitical tensions in the Middle East.
The job cuts come on the heels of mounting financial pressure, with the media firm reporting a consolidated net loss of P1.83 billion for the first half of 2026. This loss is more than double the P852 million recorded during the same period in the previous year. Total consolidated revenues fell 17 percent year-over-year to P6.88 billion, a drop the company attributed largely to the absence of election-related ad spending that had temporarily buoyed its 2025 earnings, alongside broader economic drag affecting domestic market sentiment.
Executives framed the restructuring as a necessary step to secure the company’s long-term financial stability as it transitions from traditional broadcasting to a lean, global storytelling enterprise. ABS-CBN President and Chief Executive Officer Carlo Katigbak previously noted that the organization remains focused on rebuilding its core business after years of operational and financial setbacks. Despite the headcount reduction, management emphasized that it will continue investing in multi-platform content—including television, film, music, and live events—to expand its reach across local and international markets while managing the transition with compassion for affected staff and their families.
