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Channel 4 plots 250 job cuts amid torrid ad market

Channel 4 is reportedly preparing to slash nearly 250 roles, over 15 per cent of its workforce, marking the largest cut in its history.
Channel 4 is reportedly preparing to slash nearly 250 roles, over 15 per cent of its workforce, marking the largest cut in its history.

Channel 4 is reportedly preparing to slash nearly 250 roles, over 15 per cent of its workforce, marking the largest cut in its history.

Earlier this month the state owned broadcaster confirmed plans to cut 200 jobs, mostly London based, from its 1,300-strong workforce.

But chief executive Alex Mahon will announce she is axing a further 50 additional positions, according to Sky News.

It will mark the largest cuts in Channel 4’s history.

A Channel 4 spokesperson said: “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 genuinely digital public service broadcaster in the long term.

“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.

“We will share further details with our staff, partners and stakeholders soon,” they added.

Digital advertising on the broadcaster’s streaming service makes up around a quarter of the company’s £1.14bn total revenue.

In November, Mahon told the culture committee that Channel 4 was in “shock territory” as it faced the steepest advertising downturn in 15 years. This has been worsened by a shift in consumer behaviour towards streaming and on-demand services.

Channel 4 is seeking to shrink a hefty £108m annual wage bill while minimising the need to pull cash from its huge £700m content budget.