BANGKOK — Thailand’s Channel 3, the country’s first commercial television network, has announced a significant restructuring plan that will impact approximately 100 employees. Affected staff have been notified via email and are required to sign acknowledgment forms at the Maleenont office building between November 26 and 27, 2024.
The restructuring, effective December 31, 2024, outlines specific guidelines for employees’ remaining leave days. From December 1 onward, staff can use their unused leave, but unauthorized absences may lead to deductions from severance packages. Employees were also informed about mandatory briefing sessions to explain evaluation results and compensation packages. Severance payments will comply with Thai labor laws, though specific departments targeted for reductions remain undisclosed.
Adapting to a Changing Media Landscape
Channel 3, operated by BEC Multimedia under BEC World Public Company Limited, has faced multiple rounds of layoffs due to shifts in the media industry. Once a pioneer in Thai television after its 1970 launch, the network reached its peak in the 1980s with a mix of international series and locally produced dramas that earned widespread acclaim.
The channel’s fortunes shifted with the digital era. In 2013, Channel 3 acquired licenses for three digital channels, but subsequent changes in viewer behavior and intense competition from online platforms have challenged its traditional business model. By 2019, it terminated two of its digital channels and now faces declining revenues.
The latest layoffs include employees aged 30-40, marking a departure from earlier efforts focused on early retirements for those over 55. Some staff, particularly those unprepared for career transitions, expressed shock at the announcement.
Broader Industry Disruption
Channel 3’s challenges are part of a larger transformation in Thailand’s media industry. Since 2019, the number of digital TV channels has dropped from 24 to 15. Print media has also seen widespread closures, with many outlets transitioning to online platforms.
Data from the Stock Exchange of Thailand and TRIS Rating shows the media sector’s struggles in 2024:
- Overall media and publishing revenue fell 4.60% year-over-year.
- Digital TV operators faced a sharper decline of 12.16%.
- The publishing sector reported a 7.85% drop in revenue.
Declining ad revenue, driven by advertisers shifting to online and social media platforms, has compounded the difficulties for traditional broadcasters. Channel 3’s latest workforce reduction highlights the urgency for media companies to adapt to this changing landscape.
