Viaplay: 25% of the group's workforce to be let go & a cost reduction programme launched

"We have had to take a number of immediate decisions for the sake of the future of our business. This regrettably means letting go of more than 25% of our people," announced Jorgen Madsen Lindemann, CEO of the Swedish audiovisual group Viaplay, on 20/07/2023. According to specialised media, this would represent nearly 450 people.

The announcement comes after the Swedish group posted a net loss of SEK5.89bn (€512m) in the second quarter of its financial year 2023. Viaplay had posted a net profit of SEK175m (€15.2m) for the same period in 2022.

"We are today announcing a new strategy and plan, which includes, but is not limited to, focusing on our core Nordic, Netherlands and Viaplay Select (selected content from the OTT platform available via different services in selected countries) operations; implementing a new operational model; downsizing, partnering or exiting our other international markets; rightsizing and pricing our product offering in the Nordics; undertaking a major cost reduction programme," continued Lindemann.

"We are conducting an immediate strategic review of the…