On the evening of November 27thHong Kong Television Broadcasting***TVB) announced that the board of directors will make a number of major adjustments to the company's businessIncluding the restructuring of the TV broadcasting and e-commerce businesses, the total number of employees was reduced by more than 300, equivalent to 8% of the total number of employees of 3,599 at the end of June. In the TV broadcasting business, TVB plans to merge J2 and Financial Sports Information Channel into a new channel "TVB", which is expected to save TVB HK$100 million in content costs, involving layoffs of more than 200 peopleIn terms of e-commerce business, TVB plans to merge the existing online platforms "Zto" and "Neighbor Buy", and "Neighbor Buy" will be merged into "Neighbor Stay" and about 100 employees will also leave the group.
In the evening, TVB's executive chairman Xu Tao issued an open letter to internal employees, saying that the above two major operational restructurings will inevitably affect the company's personnel structure, and about 300 employee positions will be affected, but he said: "This is because we hope to insist on further reform to adapt to the changes and challenges of the market." We are drawing up a new roadmap for TVB to optimize resources while focusing on the development of diversified businesses in the future and implementing a sustainable cost management strategy to operate. Xu Tao also said that at this moment of change, TVB will continue to provide high-quality cross-platform entertainment, news and information content for viewers and users.
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