BUSINESS BRIEFS

STV to shed half its workforce

STATE broadcaster STV is to shed 1,200 of its 2,015 employees by May as part of measures to reduce its Sk680 million (16 million euro) debt.

"This isn't easy for me. I know that my decision will impinge on the lives of 1,200 people. However, this is the only way," said STV director Richard Rybníček. He said that the reduction in workforce would save the company Sk300 million (7.2 million euro) annually.

Private broadcaster Markíza employs around 420 staff, and Czech Television has 2,800.

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