Ten shedding staff to ‘keep growing revenue’

Feb 15, 2024 at 09:43 am by admin

Redundancies are expected today at Ten Network Holdings, which trades as Paramount ANZ, a day after the broadcaster was hit with a legal bill expected to top $1 million.

It fell to Pam Kaufman, its president and chief executive of international markets, global consumer products and experiences, to tell staff, with “a number of redundancies” to be notified by close of business today.

Details about which parts of the business are affected, and the number of redundancies, are not known.

Kaufman says the “tough but necessary decisions” are needed to drive earnings growth in 2024 and “ensure we continue growing our revenue while streamlining operations and reducing costs”.

She thanked those who will be impacted, encouraging them to “support one another” as Paramount navigates “this next phase of our evolution”.

Australia is seen as a critical and priority market for Paramount, a spokesperson was quoted as saying.

The announcement comes a day after Ten’s lawyers heard that the broadcaster would have to stump up for the disputed legal costs of The Project co-host Lisa Wilkinson.

Reports today also suggest talks between Paramount and Warner Brothers Discovery about a possible merger.


Sections: Digital business


or Register to post a comment