ABS-CBN, considering the retrenchment of August, if.

ABS-CBN Corp considers the retrenchment of workers in August, in case it fails to curb their operations.

At the Senate hearing, President and CEO Carlo Katigbak said they continue to lose money every month and are also concerned that they will never return to the air.

It previously said they would not cut the employee for three months following its May 5 shutdown.

According to Katigbak, P30-35 million is losing their company to their advertising revenues daily, since they closed.

Meanwhile, in their urgent motion in the Supreme Court, they said they would be forced to lay off their employees, reduce wages and benefits, and reduce costs and expenses.

For now, the proposal would give ABS-CBN a provisional franchise until Oct. 31 is set for a second reading in the House of Representatives, after it was withdrawn yesterday.