CNN Philippines Employees Receive Severance Pay as Company Ceases Operations

People walk past the CNN Philippines office in Mandaluyong, Metro Manila on January 29, 2024. The CNN Philippines officially announced that it will stop news production operations effective on January 31, as a result of “serious financial losses”. JAM STA ROSA / AFP
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The day that CNN Philippines employees were informed about the closure of their company was also the day they lined up to receive their severance pay. According to one editor, the management offered a “nice” separation package.

CNN Philippines, a local media news channel, made the announcement on January 29, 2024, that it would cease operations on January 31, 2024, due to significant financial losses sustained over the years. The channel informed its viewers that it would discontinue operations on all media platforms, including free-to-air TV, cable, and digital platforms.

In a statement, CNN Philippines expressed gratitude to its staff for their commitment and dedication, as well as to its partners, including CNN Worldwide and Turner Broadcasting, for their support. The channel also thanked its viewers for their loyalty and trust over the nine years of its existence.

An employee, who chose to remain anonymous, revealed that they were called for a general assembly on Monday, January 29, where President Benjamin Ramos officially announced the closure. The employee admitted that they were already expecting this development.

On the same day, employees received their severance package and their salary for the entire month of February. Despite the unfortunate turn of events, CNN Philippines made efforts to ensure the well-being of its staff, according to another anonymous employee.

Some employees took to social media to express their gratitude to CNN Philippines and share their thoughts and experiences with the media network. Former CNN Philippines reporter Paolo Barcelon expressed his gratitude for the opportunity the company provided him to pursue his passion. He acknowledged the impact the network had on his career and the memories it created.

Senior Anchor Rico Hizon also expressed his appreciation for the nine years he spent at CNN Philippines. He thanked the company for allowing him to serve as an anchor on several shows. Hizon acknowledged that the closure of CNN Philippines was a loss for Philippine media but emphasized that everyone affected by the closure was now exploring new avenues in their careers.

The closure of CNN Philippines marks a significant moment in the Philippine media landscape. The channel’s legacy of providing opportunities to individuals who aspired to pursue their dreams and make them a reality will forever be remembered.

As the employees bid farewell to CNN Philippines, they carry with them the experience, knowledge, and skills gained during their time with the network. It is a challenging time for all those affected, but it also presents an opportunity for growth and new beginnings.

The closure of CNN Philippines serves as a reminder of the ever-changing nature of the media industry. It highlights the importance of adaptability and resilience in the face of financial challenges. As the affected employees embark on new career paths, they will undoubtedly contribute their expertise to the ever-evolving media landscape in the Philippines.

While the closure of CNN Philippines is undoubtedly a loss, it also signifies the beginning of a new chapter for both the employees and the media industry as a whole. As they move forward, they carry with them the memories and lessons learned from their time at CNN Philippines, and they will undoubtedly make valuable contributions wherever their careers take them.

Source: The Manila Times

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