Overview
- Mediapro informed unions and the works council that it intends to carry out a collective layoff affecting roughly 250 employees.
- The company has not yet registered the ERE with the regional labour authority, which would trigger a legal consultation period of at least 30 days.
- Negotiations are expected to begin in two to three weeks, with sources indicating the cuts would likely concentrate in Barcelona and Madrid and focus on central services.
- Executive president Sergio Oslé and CEO Carlos Núñez are leading the restructuring after leadership changes and the non-renewal of the group’s main LaLiga broadcasting contract to HBS, part of Wanda Sports.
- The move comes as 2024 revenue fell about 11% to roughly €1.07 billion with a €79 million net loss, debt stands near €500 million after refinancing to 2029, and Moody’s downgraded the company to Caa1 with a negative outlook.