NewTV axes 37 jobs as digital crisis flares

NewTV axes 37 jobs as digital crisis flares

DN Broadcast Co is the operator of NewTV 18. PATTANAPONG HIRUNARD
DN Broadcast Co is the operator of NewTV 18. PATTANAPONG HIRUNARD

NewTV, a digital TV channel operated by DN Broadcast Co, has trimmed 37 staff because of the industry's financial crisis.

The company announced the latest layoffs yesterday, including editorial staff to cut unnecessary expenses.

Paramet Hetrakul, executive director of DN Broadcast, said the move is part of the company's internal restructuring and he believes the sackings will help the company better control its costs and survive amid a period of intense competition for digital TV.

In the past two years, the digital TV industry has faced an economic slowdown and many operators have shuttered their businesses or scaled down.

Mr Paramet said NewTV will continue to broadcast documentary programmes for the core positioning of the channel. It will also promote the content on social media such as Facebook, YouTube, Instagram and NewTV's website.

He announced at the company's office that the layoffs are based on industry legislation.

One of those losing his job said he understood the company's financial situation.

"Some are looking for new jobs, but I will take this opportunity to pursue a master's degree," said the man who requested anonymity.

DN Broadcast's revenue has been continuously falling since 2013, from a 3-million-baht loss in 2013 to 741 million baht in the red in 2015.

The company didn't reveal its revenue in 2016 and 2017, but major losses were expected, leading the executives to lay off 37 workers yesterday.

DN Broadcast won a digital TV licence auction for 1.31 billion baht and has 500 billion in registered capital.

Last year VoiceTV, the Shinawatra family-owned business, laid off 57 workers to reduce operating costs. Thairath TV, operated by Triple V Broadcast, offered early retirement packages to staff before officially announcing worker cutbacks. Nation Media Group, which runs Nation TV and Now 26 also offered similar packages.

The industry was projected to have massive layoffs this year to weather its financial crisis.

Mana Treelayapewat, dean of the School of Communication Arts at the University of the Thai Chamber of Commerce, said earlier the cost of hiring staff is considered the biggest obstacle after the digital licence fees owed to the National Broadcasting and Telecommunications Commission. It is not surprising weak operators chose to make layoffs, he said.

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