NENT Group says it will save approximately SEK 250 million (€23.68 million) annually from its personnel costs.
Staff numbers have been reduced as the Nordic broadcaster looks to see off currency headwinds and invest further in streaming service Viaplay.
In. a statement NENT said it would report a one-off charge of approximately SEK 700 million in Q4, comprising redundancy costs and writing down of free-TV content and other assets.
Personnel savings are expected to be approximately SEK 250 million, with the majority impacting in 2020.
A review of NENT’s free-to-air content is underway as the broadcaster changes what is shown on screen. It says historic free-TV output deals with long term series commitments have limited remaining value.
There is no change in the Group’s profitable growth commitment for 2020.
The company is facing a one off charge of SEK 700 million as an Item Affecting Comparability in its Q4 2019 financial results.
