Between 200 and 250 jobs are to go at Joop van den Ende’s production company Stage Entertainment, the musical mogul told Nos radio on Tuesday.
Van den Ende has a 40% share in the company, which is the Netherlands’ biggest producer of musicals. The rest has been in the hands of private equity group CVC Capital since last summer.
The financial group wants to take fewer risks with the company’s own productions, news agency ANP says.
A spokesman confirmed to ANP that a reorganisation will take place but could not confirm the redundancies. ‘This is premature. Measures are being looked at but no decision has been taken,’ he said.
Van den Ende told the broadcaster the company will be made more efficient. ‘In a family firm, you sometimes forget that you need to keep the organisation tight,’ he said.
The company’s most recent financial results have been disappointing. Stage Entertainment booked a loss of €19m in its most recent book year compared with net profit of €12m in the year before that.
Stage Entertainment is active in eight countries. Current productions in the Netherlands include De Tweeling, The Bodyguard and Grease. According to Nos, the company is no longer active in Britain following two flops.