Channel 4 will announce plans this week for almost 250 job cuts amid a steep downturn in the broadcast advertising market.
Sky News reports that the broadcaster will say today that it is cutting the roles, a figure equating to just over 15% of its full-time workforce of more than 1,300 people.
Sky cited sources who said at the weekend that while the number of people being made redundant would be approximately 200, in line with earlier reports of the cost-cutting, close to an additional 50 roles were also being axed by chief executive Alex Mahon.
It is expected to be the biggest cut in the history of Channel 4, which launched in 1982 and came close to being privatised last year.
Ministers ultimately decided against selling the company despite having hired bankers from JP Morgan to oversee an auction.
This week’s cuts will affect a range of departments as Mahon described the ad market’s decline as “market shock territory” for the company.
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 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.”
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