NZ's Sky Network TV to cut 170 jobs amid broader restructuring (updated)

Sky Network Television

28/03/2023 21:59

(Updates with details, background)
       March 29 (Reuters) - New Zealand's Sky Network
Television Ltd  SKT.NZ  said on Wednesday it would cut around
170 full-time roles by the end of June as part of a proposed
reorganisation.
    The company has previously said it would outsource some of
its technology and content operations to India's Tata
Consultancy Services Ltd  TCS.NS , which could lead to roughly
90 job cuts.
    Sky Network expects NZ$6 million ($3.75 million) of
annualised operating cost savings from fiscal 2024 onwards from
the restructuring. 
    "The savings are in addition to NZ$35 million in permanent
savings already targeted for FY23, and additional savings in
future years including further targeted reductions in Sky's
programming cost line," Chief Executive Sophie Moloney said in a
statement.
    However, the company will boost staffing in its customer
care department by 40%. 
    
($1 = 1.5992 New Zealand dollars)

 (Reporting by Rishav Chatterjee in Bengaluru; Editing by Devika
Syamnath)
 ((Rishav.Chatterjee@thomsonreuters.com;))