Astro undertakes VSS to strengthen market position

Astro Malaysia Holdings Bhd's unit has inked a US$360mil (RM1.49bil) agreement with Measat Global Bhd to use the 12 transponders on the latter's satellite over a 15-year period.

KUALA LUMPUR: Astro Malaysia Holdings Bhd will be undertaking a voluntary separation scheme (VSS) in a strategic review of its business to strengthen its position in the market.

In a statement, the pay TV operator said the VSS will be offered purely on a voluntary basis, and that a transition programme that includes coaching and skills upgrading training has been put in place to provide support to employees who opt for the scheme. 

“In an increasingly borderless and digital world, competition is relentless. Astro continues to be proactive to reinvigorate the Group in order to strengthen its position in the market and to remain relevant in the years ahead," said Henry Tan, CEO designate of Astro.

The company noted that the media and entertainment industry is currently experiencing an unprecedented rate of disruption.