Italian pay-TV broadcaster Sky is planning to cut its total workforce by 25 percent under a 4-year transformation plan, according to a joint statement released by the unions Slc Cgil, Fistel Cisl and Uilcom. The reduction is expected to save Sky around EUR 300 million, cutting its total workforce of 11,000 (including 6,000 external employees) by around 3,000 jobs by 2024, said the unions, adding that the move comes in response to aggressive competition and the country's ongoing economic crisis.
The Comcast-owned company has around 5 million pay-TV subscribers in Italy and last year launched its inaugural fibre offer. However, it recently lost the majority of its rights to air Italy’s top-tier Serie A football league for the 2021-24 cycle to rival Dazn. The sports streaming platform outbid Sky with an offer of around EUR 2.5 billion (EUR 840 million a season) for 7 out of 10 exclusive games, although Sky may still win the tender to broadcast three weekly matches on a non-exclusive basis.
