French broadcaster Canal Plus is expected to announce a new restructuring plan in the second week of July, reports AFP quoting an unnamed source. The company is targeting around 500 voluntary redundancies, representing nearly 20 percent of its workforce in the country. The news has been confirmed by a trade union representative, who stated that a meeting is due to take place on 09 July, with the proposed redundancy plan on the agenda.
Canal Plus declined to comment on the matter. The broadcaster’s French operations saw first-quarter revenues decline by 5 percent year-on-year to EUR 761 million, due to ongoing customer losses. In 2016, the business started to implement a EUR 300 million cost reduction plan to achieve financial break even in 2018, which included the closure of one of its French customer service centres.
