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Channel 4 plans to cut about 300 jobs in biggest layoffs in 43 years
The broadcaster says its headcount reached 1,276 by 2025, and it is targeting savings of roughly 300 to 325 roles amid a TV advertising downturn.
Channel 4 is preparing to cut about 300 jobs, roughly a quarter of its workforce, in what it would be its biggest round of layoffs in 43 years, according to the Guardian Business. The broadcaster is pursuing a major cost reduction as advertising demand remains weak.
Channel 4 said its chief executive, Priya Dogra, who started in March after taking over from Alex Mahon, will address an all-staff meeting on Wednesday to discuss a wide-ranging review of its strategy and structure.
The broadcaster is still finalizing the numbers, but multiple sources cited by the outlet say the savings being sought equate to about 300 to 325 staff roles, with London expected to be a key focus. The company previously announced 200 job cuts in a prior program led by Mahon.
The report also notes that Channel 4’s wage bill rose from £108m when the earlier cost-cutting plan was announced to £122m over the past two years. It adds that the broadcaster’s programming operation had a £640m budget last year, including £480m for British original content, as Dogra is expected to make changes to content and commissioning.