Canal+ has officially announced it is cutting 500 members of staff as it responds to “the upheavals of the audiovisual sector and the transformation of its businesses.”
The company said it needs to “transform its French activities…This could lead to the departure of a maximum of 492 people, conducted exclusively on a voluntary basis.”
In a statement, Canal+ said that while it has attempted to diversify the business the changes are “unfortunately still insufficient because the transformation of our sector has been like a revolution due to global platforms, which are digital natives and international in scope, and have considerable financial strength and have managed to escape the fiscal and regulatory constraints on the wider economy.”
The pay-TV company said the job losses are necessary in order to “transform towards digitalisation and increase agility in the organisation.”
