Type
Internal restructuring
Country
United Kingdom
Region
Location of affected unit(s)
Sector
Information / Communication
Publishing Of Information; Production And Programming Of Audiovisual
Programming And Broadcasting Activities
60.2 - Television programming and broadcasting activities

120 jobs
Number of planned job losses
Job loss
Announcement Date
24 October 2016
Employment effect (start)
Foreseen end date

Description

Broadcaster ITV has announced plans to cut 120 jobs from its 3,000 strong UK workforce. The confirmation of the job losses had been widely anticipated since ITV announced that it would seek to make GBP 25 million (€29 million) of savings following the outcome of the referendum on EU membership. The resultant instability generated by the exit vote has led ITV into seeking cost reductions as its predicted revenue from advertising is expected to fall. It is not yet known when the job losses will take effect, nor which parts of the business will be affected. 


Sources

  • 24 October 2016: The Guardian

Citation

Eurofound (2016), ITV, Internal restructuring in United Kingdom, factsheet number 89051, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/89051.