ABS-CBN Corp. will retrench around 200 employees, or about 7 percent of its workforce, as the company moves to reduce costs while continuing its shift toward a more sustainable media and content business.
The announcement came as ABS-CBN remained under financial pressure in 2026. The company reported a net loss of about Php 1.83 billion in the first half of the year, wider than the Php 853 million loss recorded in the same period in 2025, while revenue declined to about Php 6.88 billion.
ABS-CBN said the workforce reduction was intended to strengthen its financial position amid weak advertising and consumer spending, inflation, slower economic growth and uncertainty tied to the Middle East conflict.
The company has also been working to reshape its operations around content production, digital platforms and distribution partnerships after losing its free-to-air broadcast franchise in 2020.
At the same time, ABS-CBN is raising Php 6 billion in fresh equity through new and existing investors. The company said the proceeds are intended for working capital, balance sheet strengthening and other general corporate purposes, subject to the required approvals and completion of the transactions.
The capital infusion includes a major investment from I&C Holdings, while Lopez family companies are also participating. The Lopez group is expected to remain the controlling shareholder after the transaction.
The latest retrenchment adds to a series of workforce reductions ABS-CBN has carried out since 2020, when the shutdown of its broadcast operations forced the company to scale back and rely more heavily on digital, cable and content partnerships.
Management has said the longer-term goal is to build a leaner, content-led business that can operate with lower fixed costs while expanding revenue from digital platforms, licensing and international markets.