Layoffs loom at British broadcaster Channel 4 amid a continued decline in television advertising, Variety Has confirmed.
The Guardian, who first broke the newsreported that up to 200 jobs could be cut, marking the company’s largest round of redundancies since 2008. According to Channel 4, the redundancies are necessary to “invest further” in the broadcaster’s “digital future.”
“Channel 4 is a self-sustaining, fully commercially funded broadcaster, known for producing iconoclastic programs and generating huge value for the UK creative economy. “Like every organisation, we have to deal with an extremely uncertain economy in the short term and the need to accelerate our transformation to become a genuinely digital public service broadcaster in the long term,” a Channel 4 spokesperson said in a statement. to Variety. “As a result, we must continue to divest our linear channel business and simplify our operations to become a more efficient organization. “This will allow us to invest further in our digital future and our mission to create distinctive and disruptive British content, increasingly focused on streaming and social channels.”
The statement continues: “While organizational change is never without personal impact, it is a necessary response that allows 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 that Channel 4 remains a relevant and rebellious force in British creative and cultural life for the long term. In doing so, we will continue to support Britain’s exceptionally brilliant independent production sector. We will share more details with our staff, partners and stakeholders soon.”
In response to the 2008 financial crisis, Channel 4 cut almost 25% of its staff. According to The Guardian, this round of layoffs is expected to primarily affect London-based employees, with those in its commissioning and operations teams most affected.