It is taking advantage of Spain’s ERTE programme, which covers salaries during the country’s coronavirus lockdown
Mediapro will temporarily lay off 1200 employees, covering their salaries in the meantime with help from the Spanish government’s ERTE programme – according to reports.
The initiative helps companies to continue paying salaries during the country’s coronavirus lockdown. It will fund part of the employees’ salaries, and then Mediapro will compensate the difference to 75-100% depending on the their overall salary. Those on lower salaries will get a higher percentage, reports Variety.
In addition, the company has cut costs further with top executives agreeing to take a 50% pay cut, and management earning over €80,000 (£73,500) will see salaries cut by 15-25%.
Once the coronavirus crisis is over and business can continue as normal, all employees will be able to return as they were before. These measures only affect the 1,200 strong workforce in Spain, with international workers possibly experiencing similar measures in line with the laws of each nation.
Mediapro has been hit hard by the Covid-19 pandemic, suspending all production in Spain and abroad. With it unknown when sport events and film production will be able to continue again, the company will likely have to wait for the lockdown measures to end before returning to regular service.