Foxtel has made 200 employees redundant and will stand down another 140 staff members until the end of June as the News Corp-controlled pay TV operator scrambles to survive the coronavirus pandemic.
The job cuts were confirmed in an email sent to staff late on Wednesday by Foxtel chief executive Patrick Delany, who said the company had to “act now” to ensure it remained strong in the long-term.
“Australia has experienced tough times before,” Mr Delany wrote. “We know that in tough times Foxtel becomes a great source of comfort to people at home who want to be informed and entertained. Right now, with Australians isolating themselves at home, our customers need us more than ever.
“The government COVID-19 restrictions are however seeing major challenges for us including the broadcast and streaming of live sport. And looking ahead, the economic outlook for Australia is deteriorating and our continued transformation will become even more important.”
“As you know, we have already stopped all non-essential expenditure; stopped hiring; released all casuals, contractors and freelancers in non-critical roles and announced a shutdown over Easter for everyone who is not essential to maintaining our service to customers.”
Foxtel has battling fierce competition from online streaming services. It has also offering discounts to customers threatening to cancel their subscriptions to a lack of sport available on the service.
More to come