Foxtel Cable Television Pty. Ltd. made 200 employees redundant and will cut another 140 workers in a move to keep the company afloat amid the coronavirus crisis, The Australian Financial Review reported April 8.
In an email sent to staff, Foxtel CEO Patrick Delany said the job cuts were part of a two-year review into how the company's products and finances were run, but the COVID-19 pandemic accelerated the changes.
Alongside the layoffs, the Australian pay TV operator also suspended nonessential expenditure, implemented a hiring freeze and released all casuals, contractors and freelancers in noncritical roles.
The government's restrictions on public gatherings forced sporting leagues such as the Australian Football League and the National Rugby League to suspend their seasons. Foxtel, which owns Fox Sports Australia Pty. Ltd. and sports streaming app Kayo, has been hit hard by the cancellations as the company sees sports as a major driver of its subscriber and advertising revenue.