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iloubnan.info > Business > All news > Media outlets restructure operations
Media outlets restructure operations
iloubnan.info - October 03, 2009

BEIRUT - According to Lebanon this Week published by Byblos Bank, The Arabic daily An-Nahar has reportedly laid-off 55 employees out of a total workforce of around 300 as part of a restructuring plan aimed at reducing its $1m annual deficit.

The plan is based on an assessment conducted by consultants Booz & Co. The plan is expected to help reduce the firm's financial losses and restructure various departments. In parallel, production outlet Studio Vision reportedly dismissed 50 staff, broadcaster LBCI reduced its workforce by around 20 employees, and television station MTV has laid-off about 8 employees. The reductions at LBCI are attributed to the closure of its offices in Saudi Arabia.


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