Channel 4 is planning major job cuts in the face of the TV advertising downturn, according to a report in The Guardian.
The broadcaster is planning the cuts to reduce its current £108m per year wage bill and accelerate its digital streaming strategy while protecting its content budget.
The content budget has already taken a hit with a significant slowdown in new commissions and cancellations of returning shows including Steph’s Packed Lunch, The Big Narstie Show and SAS: Who Dares Wins.
A spokesperson told The Guardian “Like every organisation, we are having to deal with an extremely uncertain economy in the short term and the need to accelerate our transformation to become a wholly digital public service broadcaster in the long term.”
“As a result, we need to continue to divest from our linear channels business and simplify our operations to become a leaner organisation.”
The job cuts are most likely to come to its London based employees as it has made significant promises to grow operations in the nations and regions.
The spokesperson told The Guardian that “whilst organisational change is never without personal impact, it is a necessary response to allow us to stand out and succeed in a world of global entertainment conglomerates and social media giants, so we can inspire new generations of viewers and ensure Channel 4 remains a relevant and rebellious force in British creative and cultural life for the long term. By doing so, we will further continue our support of Britain’s uniquely brilliant independent production sector. We will share further details with our staff, partners and stakeholders soon.”
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