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US-Mexico media giant TelevisaUnivision will cut up to 120 jobs in a major restructuring program this week, an internal source told AFP.
The group’s CEO Daniel Alegre had announced plans for the restructuring in a memo to staff on Monday, without confirming the number of positions that could be slashed.
But a source, speaking on condition of anonymity, told AFP that 120 jobs were likely to be affected.
Alegre, who became CEO in September, said the group’s new organizational structure will “bring together all the audiovisual content produced by the group in a single package.”
“This will be a challenging week,” he warned, adding that “while these decisions are never easy, we are committed to supporting everyone through their transition.”
TelevisaUnivision says it has around 100 million Spanish-speaking customers in North America, while its streaming service, ViX, has 7 million subscribers, according to company data.
The company’s revamp will be headed by Jose Luis Fabila, current head of networks, programming and marketing in Mexico.
Fabila “will ensure that our investments in content are in line with the company’s objectives and distributed effectively on all global platforms,” Alegre wrote.
Meanwhile, the group’s US local media chief Jesus Lara was leaving the company.
Televisa and Univision announced their long-awaited merger in January 2022, backed by Google, Japanese technology fund SoftBank and the Raine Group investment bank.
The merger aimed to create “a company without equal on the global media scene,” according to then-CEO Wade Davis.
The Miami-based group posted third-quarter sales of $1.3 billion this year, up two percent year-on-year.
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