Channel 4 is set to announce more than 200 job cuts as the UK broadcaster seeks to slash costs amid the worst TV advertising downturn since the financial crisis of 2008.
The publicly owned broadcaster is expected to announce on Monday it will dismiss over 15 per cent of the roughly 1,300 people it employs, in an effort to cut its wage bill as it is hit by a steep decline in spending by brands on traditional television advertising.
“Like every organisation, we are having to deal with an extremely uncertain economy,” a Channel 4 spokesperson said in a statement, noting that the company was aiming to accelerate its transition into digital broadcasting.
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