Mediapro Plans Compensation for 1,200 Temporary Layoffs, Executives Take 50% Cut

Mediapro, one of Spain’s most prolific production entities, will temporarily lay off 1,200 employees and implement the country’s ERTE program, which was put in place to cover salaries for citizens unable to work during the country’s now two-week-old lockdown.

The announcement came in an internal memo to employees and was later confirmed to Variety by a Mediapro representative.

The average ERTE benefits to be claimed fall between €800-€900 ($865-$975) per month, and cap at €1,400 ($1,500) per month for families with two or more children. Mediapro will then compensate the remaining difference up to 75%-100%, depending on the overall salary of each employee. Those who normally make less will get more.

Additionally, the company has implemented major cost-cutting measures among managers making more than €80,000 ($86,500) annually, which will see salaries reduced between 15%-25%. The company’s top executives have all agreed to a 50% pay cut for the duration of the crisis.

As explained to Variety, the employees will not claim unemployment, instead their contracts will be suspended until they can return to work, at which point Mediapro has confirmed that things will pick up as they left off and all employees will be brought back.

Mediapro has suspended all production in Spain and abroad, leaving hundreds at home unable to work. The company produces TV coverage for 16 now suspended soccer leagues worldwide, as well as feature films (earlier this month production on Antonio Banderas and Penelope Cruz’s latest “Official Competition” was suspended), drama and unscripted TV shows and numerous live events. The 1,200 employees represent nearly 17% of Mediapro’s 7,123-strong workforce from 38 countries around the world.

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