Hong Kong broadcaster TVB fires 150 staff members citing losses in international business and restructuring
City’s biggest television broadcaster continues lay-offs that began in June, closing print production of weekly magazine among other operational changes
Hong Kong’s biggest television station fired another 150 people on Friday arising from losses in its international business and operational restructuring.
A TVB spokesman said in a statement on Friday that the 150 staff members – accounting for 4 per cent of the company’s workforce – were from the magazine TVB Weekly, the production facilities division, the art subdivision, and its non-drama production.
The broadcaster attributed the shake-up to restructuring needs, saying it sought to boost efficiency and rationalise the use of its resources.
“The print edition of TVB Weekly will be replaced by a digital version; one drama studio will be shut down as a result of increasing shootings on location versus in studio; and non-drama production will streamline its operation,” the statement read.
It described the decision to eliminate jobs as “difficult” and asserted it was “obvious” the firm had to respond to a “changing business environment”.
