Research Institute
Author: Master of Number Research
2020-12-01 16:52
Last update date: 2020-12-01 16:54
[Cable Broadband/Cable News/Redundancy] Cable Broadband announced that due to the restructuring of the epidemic, it will lay off about 100 employees, 40 of whom belong to the Ministry of Information. The news refers to the staff of "News Stinger", and the other news refers to the entire group and each group of the China Group of the Ministry of Information. Several supervisors resigned.
Looking back at the past five years, the number of cable TV customers and income have plummeted. Even though the number of cable broadband employees and expenses that operate cable TV have also fallen, there has been a loss of more than 100 million yuan each year in the past five years. The following chart analyzes cable operations.
Cable broadband layoffs ▼▼▼
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The current cable broadband business includes media TV, broadband network, etc. The company changed ownership in 2017, and the government approved Yongsheng to become a major shareholder of Cable Broadband, with Qiu Dachang as the company's chairman.
Since the change of shareholders, the share price of the cable company has been below 0.1 yuan for a long time since July 2020, and the closing price on November 30 was 0.065 yuan.
According to the annual report of Cable Broadband, even if the number of employees and employee compensation expenses continue to decrease from 2015 to 2019, there will still be net losses each year, ranging from 230 million to 456 million yuan.
The company's latest 2020 interim results show that as of June 30, 20, the company had a net loss of 176 million yuan, the number of employees was 1,365, a decrease of 37.6% from the 2,186 employees at the end of December 2015, and employee-related expenses were 229 million yuan.
At the same time, regardless of whether the number of customers or the revenue of cable TV continued to fall, the number of cable TV subscribers decreased by 179,000 from 2015 to 19, a drop of 23.2%; during the same period, TV business revenue fell from 1.13 billion to 752 million in 19 years, a drop of 33.5%.
Cable big layoffs | Cable Broadband: the impact of the epidemic must be reorganized, 100 employees affected
CABLE layoffs | News: China team chief resigned, several editors in charge sent letters to express their dissatisfaction
CABLE layoffs | News Department's leadership once fired engineering veterans to provoke employee backlash
Cable layoffs | News: The cable news department cuts 40 people today and all the "News Needle" team is fired
Cable and Cable Changed Ownership, Layoffs in Media
