JAKARTA – PT Net Visi Media Tbk (NETV) has officially laid off approximately 30% of its total employees, due to piling losses faced by this television channel network. As of the first half of 2023, this issuer recorded a loss of IDR 140.47 billion.

According to the information disclosure quoted today (14/9), Ferry, Corporate Secretary of NETV, confirmed that the company had trimmed its employee structure, affecting 30% of its total employees. “This is not an easy decision for the company. In its conduct, the company will pay attention to applicable laws and regulations,” he said.

Then, according to Ferry, this layoff will not affect the operational aspect of the company.

In the first half of 2023, the company reported managing 910 employees. In other words, by cutting off 30% of total employees, 273 employees will be discharged.

Prior to the decision taking effect, NETV’s shareholders had reportedly approved resignation of Sambodo, Director of NETV, that was responsible for content production and news division. The position will be taken over by Azuan Syahril, another director of NETV.

This issuer booked revenue of IDR 124.99 billion at the end of the first half of 2023, shrinking from IDR 202.66 billion seen in the same period last year. The profit plummeted to IDR 11.33 billion from IDR 90.45 billion, resulting in losses that swelled to IDR 147.40 billion from the initial loss of IDR 83.07 billion. (LK/ZH)