It looks like the broadcast giant ABS-CBN has already weathered their recent big storm as they started to hire more and more employees.
The Network’s Career Portal posted at least 30 job positions available to be filled [mostly] in Marketing Departments, Finance, and Creatives.
The Network’s manpower boost could have link to its President and CEO Carlo Katigbak’s earlier pronouncements that the Network is seeing a return to profitability in the near term.
During the company’s annual stockholders meeting on July 28, Katigbak shared optimism that ABS-CBN will return to fiscal soundness shortly.
He reported that the Kapamilya network had narrowed down its net loss to P1.38 billion in the first quarter of the year, a 30% decrease from the previous year, brought about by an increase in advertising revenues during the May 2022 elections.
He also added that the company was able to reduce its debt to 21.5 billion from the previous year’s 26 billion.
“These improvements and the continuing upward trajectory of financial performance are indicators that a return to profitability is possible in the near term,” he said.
ABS-CBN’s profits plummeted in 2020 following its broadcast shutdown and the subsequent killing of its franchise application at the House of Representatives.
The Network, however, was able to slowly bounced back with the help of its strong presence on all of its digital platforms.
Currently, the media company is engaged in content distribution through block time agreements with A2Z Channel 11 and TV5.
Soon, the Kapamilya and the Kapatid network will also enter into a joint venture that could bolster ABS-CBN’s chances to recoup its losses.