Channel 4 is compiling a plan to enact its biggest round of layoffs for more than 15 years, with up to 200 staff potentially in line to be made redundant.
The figure would represent around 17% of the network’s overall headcount. According to The Guardian, which broke the news, Channel 4 head honchos have been working on the plan since late last year, with a view to doubling down on digital streaming while acknowledging linear difficulties and trying to keep its circa-£700M ($887M) content budget steady as it battles against economic forces. “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,” a spokeswoman said. “As a result, we need to continue to divest from our linear channels business and simplify our operations to become a leaner organisation.” The spokeswoman added that the plan will “enable us to invest more in our digital future and in our remit to make distinctive and disruptive British content, increasingly focused on streaming and social channels,” adding: “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.” Channel 4 will “share further details with our staff, partners and stakeholders soon,” according to the spokeswoman.
The news comes a few weeks after CEO Alex Mahon told a government committee that the industry is in “market shock territory” due to the worse-than-expected ad recession.
Read more on deadline.com
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