Astro has announced that it will be offering a Voluntary Separation Scheme for its staff and stressed that the VSS will be on a voluntary basis.
In a statement, the satellite station said the media and entertainment industry is currently operating in an environment that is experiencing an unprecedented rate of disruption. Industry players are required to reinvent and adapt swiftly to remain profitable and relevant in this new reality.
Euan Smith, Group Chief Executive Officer of Astro Malaysia Holdings Berhad said, “In an increasingly borderless and digital world, competition is relentless, especially in a challenging economic landscape. Astro continues to be proactive to reinvigorate the Group to strengthen its position in the market and to adapt to a fast-changing business environment.
To support its ongoing transformation, the group said it will be undertaking a Voluntary Separation Scheme that will allow it to focus on core business activities and improve its financial performance by simplifying the organization, streamlining operations and reducing operating expenses.
Astro said it will also put in place measures to ensure that customer experience will not be impacted by this exercise and offer transition programme to employees who opt for the VSS including coaching and skills upgrading training programmes
