25 MAR 2020
SPECIAL CONTENT

MEDIAPRO APPLIES AN ERTE FOR EMPLOYEES AND SALARY REDUCTION IN SPAIN

According to Europa Press, 1,200 workers will receive the state unemployment benefit and land of more than 80,000 euros will be reduced by between 15 and 25%, while the company's top managers will charge half.

Mediapro announced the launch of a Temporary Employment Regulation File (ERTE) for 1,200 workers in Spain, as published by Europa Press. This staff will receive unemployment benefits from the State, but undisclosed sources from the company indicated that the Spanish group will supplement up to 100% of the salaries of the employees with the lowest salaries and up to 75% of those of the rest.

Likewise, the company applied a "very strict" savings measures plan and managers with salaries above 80,000 euros will reduce it by between 15 and 25%, while the company's top managers will lower their salaries by 50%.

Currently, its teams participate in the production of 16 soccer leagues worldwide that were suspended, as well as film, fiction or entertainment projects, among other areas of the company's activity.

At the beginning of the month, the Group led by Jaume Roures and Tatxo Benet reported the end of the 2019 financial year where it reached 224 million euros, compared to 222 million in 2018. The turnover decreased slightly from 1,966 million to 1,817 due to the effects of modifications billing of certain audiovisual rights and the termination of the contract for the rights of La Liga in Spain. Despite this slight decrease, the Group's activity has not decreased, consolidating a solid base to face the coming years with security and solvency.

The audiovisual group has a staff of 7,123 professionals in 58 locations spread across 38 countries around the world. Mediapro sources have pointed out that each delegation of the company will adopt the measures in accordance with the legislation in force in each market.

The appearance of the coronavirus in China has already affected the headquarters of Mediapro in the Asian country and, given the appearance of the first cases in Europe, an interdepartmental monitoring group began to implement the contingency plans of each business unit, at the same time who gave the information to their professional teams so that they took all the preventive measures.