EFE faces the coronavirus health emergency with a very difficult financial situation. The state agency has lost 43% more in 2019 after registering a double-digit decrease in national and international revenues and increasing expenses. Specifically, EFE registered operating losses of more than 10 million euros last year and a negative net result of between eight-seven million thanks to the 25% tax offset, sources close to the public company report.
The agency’s leadership, which does not yet have a president, met with the unions on Wednesday to transfer the provisional closure of the accounts and agree on a new system to consume the accumulated days off from last year as they intend that journalists spend them on these days of isolation. At that meeting, the financial director, Jose Maria Arauzo Gonzalez, acknowledged that the agency is facing a “very complicated” 2020 due to the collapse in sales, which is in addition to that registered last year.
Commercials are making real efforts to stop subscription bleeding And, the commercials are making real efforts to stop the bleeding of subscriptions at a time when advertising investment in the media has plummeted and the sector asks the Executive to fiscally benefit the spending on ads to try to revive the sector.
Faced with the uncertainty surrounding the economic future of the state agency, which increasingly depends on the program contract signed with the Executive, the leadership has avoided making any type of closure forecast or projection and has limited itself to recognizing that the “situation does not it is easy “or” buoyant “and to ask” to work together “to ensure the future of the firm. The Agency is still waiting to receive the strategic plan drawn up by Deloitte, which already contemplated some type of early retirement, to start its transformation. It was originally due in May but appears to be delayed due to coronavirus-related complications.
Union mess with the ERE
After the meeting, both the CCOO and the Inter-Centers Committee, which includes three other unions, including the UGT with the majority of the representatives, issued separate statements that have generated a stir. CCOO noted in its internal note that the management had hinted “that if the economic situation worsens EFE would be forced to adopt exceptional adjustment measures, such as the application of a new ERE or ERTE, just as many companies are doing.” An extreme that other union representatives present at the meeting deny.
The 2019 salary rise is pending the approval of the Treasury
At this point, UGT sources assure that there was no mention at any time that an employment adjustment would be carried out and that “it was simply” stated that the company would continue to telework until almost summer, so it would be good if they left. consuming the pending days off to prevent them from accumulating. Official sources of EFE assure that they do not have any information about the possibility of an ERE being carried out.
What was progressed was in the salary increases agreed for 2019 and 2020. The first has been approved by SEPI and is pending the approval of the Treasury and the second will have to wait for the salary mass of this exercise to be processed.
EFE does not yet have a president because the official appointment of Marina Gabriela Canas Pita de la Vega was suspended after the first positives in Congress. She is already a counselor.