MEXICO CITY — TV Azteca will cut roughly 400 jobs, or 12% of its entire staff, in its quest to keep the company lean.
Mexico’s number two broadcaster announced March 3 that it had identified 400 duplicative administrative and production personnel who were dismissed as of March 1.
“This payroll reduction is part of TV Azteca’s strategy to operate as efficiently as possible,” Azteca topper Ricardo Salinas Pliego said.
Azteca had 3,300 employees at year-end 1997, up from 2,200 at the end of 1996. Most of the new hires were in production and sales, to handle greater in-house production and more advertising clients.
The move puts pressure on rival Televisa, which has already committed to cut its own costs, an analyst said. Televisa is expected to release its 1997 fourth quarter and year report March 5.