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TVB conducts another retrenchment exercise; The manpower is reduced by another 10%?

The retrenchment exercise in TVB has been continuous as it suffers from a heavy loss in recent years and the departments are required to submit a “name list”. On 2nd August 2018, Apple Daily (蘋果) received information from a TVB staff, Mr Lee (李先生) using an assumed name that TVB will be issuing letters again within these few days and it was estimated that every department must reduce the manpower by 10%.

Mr Lee revealed the retrenchment exercise in TVBI was nearly completed and TVB became the next target: “TVBI will reduce 40% of the manpower and fired 60 to 80 staff. I heard that entertainment news department had 80 employees and had fired 5 staff now. It also fired 2 staff from on air service and 18 remaining employees were left. It should issue letters within these few days but the particular department may be exempted if it is short-handed.”

As Mr Lee was one of the retrenched staff and when asked about the current atmosphere in the company, he said: “It is definitely bad. It keeps mentioning about staff retrenchment and everyone is waiting for news. Have to see if they allow inter-transfer to another department. A company goes for restructuring once in every few years and it may retrench more staff if the business continues to be poor in few months time. There is no choice since we earn lesser in the market and need to cut the budget.”

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