ABS-CBN to lay off about 200 employees amid tough year for content

MANILA, Philippines — ABS-CBN Corp. on Tuesday announced it will lay off about 200 employees, citing a “difficult year for the content industry” that led to weaker advertising and consumer spending. In a statement, ABS-CBN said it had made the difficult decision to implement the retrenchment program to keep the company “on strong financial footing.”