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Statement of ABS-CBN on Employees Retrenchment Starting August 31

ABS-CBN – The Kapamilya network released a statement announcing the laying off of employees starting August 31, 2020.

One of the biggest issues that recently took the social media platforms by storm was the denial of the franchise bid of ABS-CBN network. With a 70-11 voting, the network was denied of a fresh 25-year franchise.

More than two (2) months ago, the National Telecommunications Commission (NTC) released a Cease and Desist Order against the network. It was due to its expired franchise.

Hearings were held to tackle the issues thrown against the network. It included the taxes it paid to the government and the nationality of its chairman emeritus, Gabby Lopez III.

VISIT: ABS-CBN Executives On Rare Occasion Appear On GMA’s ’24 Oras’

Photo Source: ABS-CBN

Last July 10, the House Franchise Committee voted on the bid of ABS-CBN network for a new franchise. Undeniably, it left thousands of hearts broken most especially the employees of the network.

Yesterday, a town hall meeting presided by the network’s president, Carlo Katigbak, was held. The employees and the executives were there to discuss matters following the denial of a franchise.

Following the town hall meeting, based on a report on the news website of ABS-CBN, the management released a statement announcing the laying off of employees starting August 31, 2020 following the franchise denial.

According to the network, they are doing everything to lighten the pain of those who will be affected by the retrenchment. It is set to give the separation pay and the retirement benefits based on the law.

According to ABS-CBN, they are also after the programs that will help their employees who will be losing their jobs find a new work. It stressed that it is hard for the company to lay off its workers amid the COVID-19 pandemic but it has no choice.

The network is praying for strength for those who will be losing their jobs in facing the challenges in life. In its statement, it expressed its gratitude for the services the employees have rendered.

ABS-CBN Statement

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READ ALSO: President Duterte on ABS-CBN shut down: Why not just pass ABS-CBN franchise?

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