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Luxe.TV to cut jobs
Jörn Krieger ©RapidTVNews | 01-08-2010
Luxe.TV, the European thematic channel covering the world of luxury, seems to be in financial difficulties and needs to save costs. By August 15, 24 of its 37 employees are going to be made redundant, reports Luxembourg-based newspaper “Luxemburger Wort” citing federal trade union OGBL.
Talks are scheduled to take place with the union in the next few days regarding a social plan for affected staff members. The Luxembourg-based channel declined to elaborate on the reasons for the job cuts. But OGBL was told that the business model didn’t work out. “The whole thing is not a real surprise, of course, as it could be seen that this would happen for months,” said Léon Jenal from OGBL.
Luxe.TV, which focuses on luxury products and lifestyles, launched in June 2006. One of its founders was Jean Stock, the previous president of TV5 Monde, CFI and general secretary of the EBU. The channel, which is distributed on 11 satellites in six languages, reaches more than 385 million viewers in 63 countries.
