TVB may retrench 200 employees!!!

2 12 2008

I cant believe this~! Read on~!

Economy downturn has hit the entertainment business. According to Hong Kong media reports, Hong Kong’s dominant television broadcast station Television Broadcasts Limited is rumored to be retrenching 200 employees to tide over the crisis. Managing Stephen Chan, Director of the station, says TVB has been revising the company structure and manpower issues and should reach a conclusion by early December. He does not rule out the possibility of a retrenchment exercise but says it will not affect its actors.

TVB’s last retrenchment exercise was in 2003 when SARS struck. Chan describes that to be a painful and tough decision making period for the company has to be answerable to its shareholders for their investments. This economic crisis being a hard-hitting one may cause more to be retrenched.

“It will not be surprising if the numbers retrenched are more than those in 2003. The overall economy climate now is not any better than in 2003. However if there is a retrenchment, it will be a one-time exercise. I hope that will somehow ease the fears of our employees. We will not be retrenching our artistes; they are our financial tools. The retrenchment will only affect those working in the production team and the administrative staff. We hope to minimize the negative effects,” he says.

With regards to the rumor, actors expressed their understanding and comment that retrenchment does not happen solely in TVB.

Actor Ron Ng who has been with the station for a decade says, he understands the company’s position in such a crisis and will just await the management’s announcement.

Singer-actor Hacken Lee says, being just a little employee, he can only wait for things to happen but prays that he will not be in the retrenched list.

Senior actor Hu Feng says he is unsure of details of the retrenchment but he does not wish for it to happen. However, he is clear that the financial situation of the company is under the influence of the larger environment and every organization has their own policy to carry out. He claims to be ignorant of business operations but feels if the income of the company is compromised under the downturn, retrenchment is unavoidable.

Channel NewsAsia – Monday, December 1




2 responses

2 12 2008
Jeff Atkinson

Great post. I will read your posts frequently. Added you to the RSS reader.

8 12 2008

thanks thanks Jeff.
Looking foward for more comments from you.

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