Agence France-Presse (AFP) is planning workforce reductions and seeking financial assistance from the French government to address a projected €90 million deficit over the next five years, according to an internal message from CEO Fabrice Fries. The plan, revealed to employees, aims to limit cost increases and secure the agency’s financial independence.
The proposed restructuring involves a net reduction of 125 positions, comprising 85 roles in technical and administrative departments and 40 among journalists. This represents approximately 5% of the AFP’s global workforce as of the finish of 2017. The agency intends to achieve these cuts through non-replacement of 160 natural departures and a voluntary departure program, while simultaneously making 35 new hires.
Fries outlined a goal of reducing agency costs by €16.5 million by 2023, with €14 million of that reduction coming from personnel expenses. This would sluggish the annual growth of personnel costs from 2.4% to 1.3%. To implement these changes, management intends to negotiate a job and skills management agreement (GPEC) with unions before the end of the year.
Alongside cost-cutting measures, AFP is pursuing a “transformation plan” focused on growing commercial activities. The agency aims to generate an additional €30 million in commercial revenue over five years through investments in visual media, including video and photography. The total cost of this plan is estimated at €21 million by 2023, including €13 million for departure support measures and €8 million for investments.
To finance the transformation plan, AFP has requested €17 million in aid from the French Public Investment Bank’s Transformation Fund (FTAP). Fries stated that this request is compatible with European Union law, unlike a previous proposal for €60 million in public aid under his predecessor, Emmanuel Hoog, which faced potential rejection.
“In the current financial situation, we must reduce our costs,” Fries stated in the internal message. “This plan is obviously difficult, but indispensable, as it will allow the agency to preserve its independence and simply ensure our mission of general interest.”
The agency is as well considering the potential sale of its Paris headquarters, a move that has drawn opposition from unions and employee representatives. Fries indicated that any sale would only proceed if it generated sufficient value and allowed the agency’s editorial staff to be consolidated in a single location.
Fries has prioritized growth in the video market, targeting television, digital platforms, and institutions and businesses. He also emphasized the agency’s role in combating disinformation and highlighted opportunities for development in areas such as sports coverage, potentially through partnerships.
Founded at the Liberation of France, AFP currently operates in 151 countries, employing over 2,400 staff from 80 nationalities. The agency produces more than 5,000 news stories, 3,000 photographs, and 250 videos daily.
The National Union of Journalists (SNJ) has criticized the planned job cuts, warning that they could compromise the agency’s ability to fulfill its mission of providing comprehensive news coverage. Employee representatives on the board of directors have also expressed concerns about the agency’s financial situation for 2019.
