Televisa to Fire More Than 3,000 Employees; Giant’s Ratings and Revenues Still Dropping
By Edgar Lopez
Mexico City, MX — According to one of the most important journalists in Mexico Jenaro Villamil, Televisa, the leading Mexican media company of the Spanish-speaking world will announce today a significant layoff of its workforce.
Villamil, who also contributes to other important media outlets in Mexico such as Proceso and Homozapping, posted on his twitter account that the significant cuts in Televisa are estimated to be about 20% of its employees, or 3,000 people. The layoffs are due to a severe revenue losses at due in part to increasing loss of viewership of its longtime staple programming of telenovelas. In addition their news department and variety shows are also suffering because of the changing taste of a younger audience, who prefer to get their entertainment and news on the internet or mobile phones.
According to a Televisa employee, the entertainment reporters seem to be suffering the most job losses, to date there have been 40 layoffs. In addition many of the writers, producers and camera personnel have been let go. Latin Heat has learned that there are more layoffs coming which include top executives and some management positions.
The debilitated Mexican television broadcaster which has reigned as the dominant network in Mexico and other Spanish-speaking countries since its founding in 1973, is now facing its worst crisis since 2001, after founder Emilio Azcarraga Milmo passed away and left the network in the hands of his son Emilio Azcarraga Jean.
After forty years of being on top, Televisa once deemed unstoppable is now coming to a screeching slow down. How slow? We will be able to gauge once the announcement is made today.