The effects of the ongoing decline in TV advertising have hit the U.K. broadcaster Channel 4 hard. In an effort to navigate these challenging times, the company has confirmed plans for significant layoffs, according to Variety.
The Guardian was the first to report this news, revealing that Channel 4 may cut as many as 200 jobs. This would mark the biggest round of layoffs for the company since 2008. Channel 4 stated that these layoffs are necessary to allocate resources towards their “digital future.”
In a statement to Variety, a Channel 4 spokesperson emphasized the broadcaster’s commitment to being a commercially funded and self-reliant platform renowned for producing groundbreaking programs that contribute significantly to the U.K. creative economy. While the economy remains uncertain in the short term, Channel 4 aims to focus on becoming a genuinely digital public service broadcaster in the long run.
The spokesperson explained that in order to achieve this transformation, it is essential for Channel 4 to streamline its operations and divest from its linear channels business, enabling the organization to become leaner. By doing so, they will be able to invest more in their digital future and their mission to create distinct and disruptive British content, with a particular focus on streaming and social channels.
The statement further emphasized the need for organizational change to keep up with the dominance of global entertainment conglomerates and social media giants. Channel 4 aims to continually inspire new generations of viewers and maintain its role as a relevant and rebellious force in British creative and cultural life in the long term. Additionally, Channel 4 is committed to supporting Britain’s exceptional independent production sector throughout this transition.
Further details regarding the layoffs will be shared with staff, partners, and stakeholders in due course.
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