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2mo ago

AFP Unveils Detailed €12–14 Million Cost-Cutting Plan

The agency detailed measures to trim expatriation budgets, incentivize retirements, secure external funding, refocus its field reporting to shore up finances

L’AFP souffre d’une «dégradation durable» de ses perspectives financières liée à la crise mondiale des médias, bousculés par les nouveaux usages du numérique et l’intelligence artificielle (IA).
Le PDG de l'AFP, Fabrice Fries, à Paris le 15 janvier 2025

Overview

  • CEO Fabrice Fries presented measures on July 10–11 aimed at saving €12–14 million over 2025–26 through headcount reductions and expatriation cost cuts.
  • The upcoming retirement incentive program is set to launch this autumn and targets 50 to 70 non-replacements to yield €4–5 million in annual savings.
  • By late 2025, the agency will examine transforming 141 headquarter and 134 regional expatriate contracts into local agreements to trim €3 million from its budget.
  • Staff representatives at the board estimate that the 2026 phase will require roughly €7 million in external financing via state-backed loans or debt restructuring.
  • In parallel, AFP will refocus its editorial strategy on breaking news and bolster field journalism supported by an expanded global source network.