TV5 streamlines workforce

MANILA, Philippines - TV5 has implemented a voluntary manpower reduction program to streamline operations.

TV5 president and chief executive officer Noel Lorenzana told reporters a total of 107 employees availed of the offer.

“We offered a very attractive package for people to have the choice to actually take it or stay so it was not a forced reduction program. What we’re basically saying is as we change the way we do things, we need to give that opportunity,” he said.

As the network is making its move to the digital space and changing business processes, he said the company saw the need to implement the manpower reduction scheme.

“It’s a matter of matching the needs of the network for the future with the people involved. As I said, it’s a generous package but not everybody who applied were actually given. It’s really just matching the talent or capability for plans,” he said.

At present, TV5 has a total of 950 employees.

TV5 is a unit of MediaQuest Holdings Inc. which is owned by dominant carrier Philippine Long Distance Telephone Co. (PLDT).

Earlier this year, PLDT said it is set to trim its workforce to complement a major corporate reorganization and strengthen its management team.

The manpower reduction is a result of the challenges faced by the business as well as the changes in technology, increasing competition and shifting market preferences.

Given the challenges and changes in technology, there has been a shift in the skills of workers needed by the group.