- ABS-CBN announced that they will pursue a retrenchment program by the end of August
- In a statement, they explained that as much as it hurts them, the network has to make difficult choices to survive
- The network offered their prayers to their affected employees and their families
ABS-CBN has issued its official statement as they plan to begin their retrenchment program by August.
The media stated that following the rejection of its franchise by the Committee on Legislative Franchise, they are left with no choice but to close some of their businesses and lay off its workers.
“With the non-renewal of its congressional franchise, ABS-CBN is now forced to cease the operations of some of its businesses and implement a retrenchment program covering ABS-CBN and its subsidiaries effective end of business day on 31 August 2020,” ABS-CBN stated.
The statement continued that the ABS-CBN executives are doing everything they can to help their workers in these times of COVID-19 pandemic but difficult decisions need to be made.
“We are doing all we can to mitigate the p
ain that will be felt by those affected, including paying out separation and retirement benefits and providing job placement programs. The loss of their jobs comes at a time when the uncertain and perilous impact of the COVID-19 pandemic further makes our decision truly difficult, but inevitable,” the statement said.
They said the decision hurts them but there is no other way for now.
“As much as it hurts us to implement this retrenchment program, this is the only way to ensure the continued employment of the rest of our Kapamilya,” the statement said.
In the end, ABS-CBN said they will continually extend their prayers to affected employees and their families. The network also didn’t forget to thank them for their service.
“For those who are affected, we pray for you and your families, that you may have the strength and guidance to deal with the challenges ahead. For all that you have done for ABS-CBN, maraming salamat po,” it stated.