Layoffs: US Media Giant TelevisaUnivision To Slash 120 Jobs, Says Report

The report said that company’s CEO, Daniel Alegre announced plans to restructure the organisation in a memo to staff on Monday, however, he didn't disclose the exact number of jobs to be impacted

The company currently has about 100 million Spanish-speaking customers in North America, while its streaming service, ViX, has 7 million subscribers.

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US-Mexico media giant TelevisaUnivision is planning to slash 120 jobs as part of a major restructuring program this week, media reports said. 

The report by AFP cited sources in the know and said that company’s CEO, Daniel Alegre announced plans to restructure the organisation in a memo to staff on Monday. However, he didn’t confirm the exact number of jobs that are expected to be impacted by the layoffs. 

However, the report cited sources and stated that this exercise is likely to affect 120 jobs.

Notably, Alegre took over as the CEO of the firm in September. He noted that this restructuring will ‘bring together all the audiovisual content produced by the group in a single package’.

The executive cautioned the employees and said, “This will be a challenging week. While these decisions are never easy, we are committed to supporting everyone through their transition.”

The company currently has about 100 million Spanish-speaking customers in North America, while its streaming service, ViX, has 7 million subscribers.

This restructuring will be headed by Jose Luis Fabila, current head of networks, programming and marketing in Mexico. The CEO said that Fabila ‘will ensure that our investments in content are in line with the company’s objectives and distributed effectively on all global platforms’.

The group’s US local media chief Jesus Lara was also exiting the firm, the report said.

Notably, earlier in January 2022, the merger between Televisa and Univision was announced. The long-awaited deal was backed by Google, Japanese technology fund SoftBank, and the Riane Group investment bank. The merger planned to create a ‘company without equal on the global media scene’, then CEO Wade Davis stated.

This year, the media group recorded sales of $1.3 billion in the third quarter, registering a gain of 2 per cent on a year-on-year (YoY) basis.