ProSiebenSat.1 Media SE (PSMD.XC)

Germany's ProSiebenSat. 1 to cut 400 jobs in push towards digital

BERLIN (Reuters) -German media group ProSiebenSat.1 will cut 400 full-time positions, the company said on Tuesday, as part of restructuring measures focusing on its entertainment activities. "The aim is to achieve a more efficient structure, a competitive cost base, and processes clearly geared to digital transformation," the company said in a statement. ProSiebenSat.1 said the company had agreed on a voluntary redundancy programme with employee representatives, with the first effects of the cuts to become visible in the fourth quarter of this year.