ProSiebenSat. 1 to cut 400 jobs as part of cost-cutting programme

German media group ProSiebenSat.1 will cut 400 full-time positions, the company said on Tuesday, adding that restructuring measures would focus on its entertainment activities.

The downsizing amounts to one 10th of some 4,000 full-time positions at the company’s headquarters and in its entertainment division.

The cuts include vacant positions that will no longer be filled, a spokesperson said.

Chief executive Bert Habets, who took over as chief executive last year, had previously flagged a three-digit figure for the job cuts.

At the group’s annual general meeting last month, he said “tough decisions” including cost-cutting, layoffs and a dividend cut were necessary in order to minimise debt and pave the way for new investments at the company.