Crisis: Spain; Telemadrid opts for layoffs, 34% cut in costs

60 employees laid off; strikes led to weeks-long blackout

09 January, 17:33

(ANSAmed) - MADRID, JANUARY 9 - Hit by the crisis, the public television station Telemadrid's screen has been blank for weeks with the single word ''strike'' appearing. Now, after weeks of strikes, the company's board of directors has reached an agreement calling for 60 employees to be laid off (300 will remain) and operating costs to be cut by 34 percent.

The budget approved by the Radio Televisione Madrid board will total 84.51 million with operating results of 85.9 million, of which 70.9 will come from the planning contract with the Madrid Community and the rest from advertising and other commercial revenue. The plan was approved unanimously by board members (therefore including the opposition) after the company refused the initial proposal to transfer 50 people to the Community or to put those over age 59 in early retirement. (ANSAmed).

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