Struggling TV Firm I-Cable Lays Off 102 Workers
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2019-03-29 HKT 18:29
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Hong Kong pay TV operator i-Cable Communications on Friday announced it had made 102 members of staff redundant as part of a restructuring scheme.
Employees given their marching orders worked in the production, maintenance and corporate support departments, the company said.
It added that no jobs had been shed from its news department.
Earlier in the day, i-Cable said its deficit had widened 26 percent from 2017 and it recorded a loss of HK$456 million last year.
The company reported an eight percent slump in revenue to HK$1.16 billion, and attributed the poor performance to a drop in advertising and subscriptions.
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