The downsizing amounts to one 10th of some 4,000 full-time positions at the company's headquarters and in its entertainment division.

The cuts include vacant positions that will no longer be filled, a spokesperson said.

Chief executive Bert Habets, who took over as chief executive last year, had previously flagged a three-digit figure for the job cuts.

At the group's annual general meeting last month, he said "tough decisions" including cost-cutting, layoffs and a dividend cut were necessary in order to minimise debt and pave the way for new investments at the company.

(Reporting by Alexander Huebner, Writing by Friederike Heine, Editing by Rachel More)