TVB to retrench 350 staff as Hong Kong’s economy goes into recession

TVB's annual Anniversary Gala Show was pre-recorded last month, after the live broadcast was shelved due to security concerns. ― Picture via Facebook/lizawangliza
TVB's annual Anniversary Gala Show was pre-recorded last month, after the live broadcast was shelved due to security concerns. ― Picture via Facebook/lizawangliza

KUALA LUMPUR, Dec 17 — Hong Kong television station TVB will cut 350 jobs or 10 per cent of its total workforce as part of measures needed to be taken to enable company’s operations to continue amidst protests in Hong Kong.

The broadcasting company made the announcement through an internal memo to their staff, reported Hong Kong’s Dimsum Daily, adding that the number, however, does not include its stable of artistes.

The affected staff are from the stage, sound and light, backstage and maintenance departments and affected staff will be informed before year-end with the company paying out “suitable compensation”.

Remaining staff will receive a half-month bonus each while those who are promoted will receive an increment in accordance with their performance.

Meanwhile, Hong Kong daily Ming Pao reported that the current protests in the island state had affected its tourism, food and retail sector and stated that it was a fact that the economy is going through recession affecting all industries including advertising, television, paper and other media.

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