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More Job Losses Expected At Itv

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ITV has begun consulting staff over fresh job losses as it prepares to outline deeper cost savings alongside lower half-year profits this week.

The broadcaster, battling with a poor advertising market, is cutting posts at The London Studios, where it produces shows such as Ant & Dec’s Saturday Night Takeaway.

The move is the first fruit of a review by the Boston Consulting Group (BCG), drafted in to assess efficiency at ITV’s content and commercial divisions.

BCG’s findings are expected to translate into job cuts, which analysts say could reduce ITV’s 6,000-strong headcount by 10%, affecting staff in production and advertising sales.

However, it is too early for Michael Grade, ITV’s chairman, to give a final jobs number this week. Instead he will announce another cost-savings target to follow on from the £41m to be squeezed from the business by the end of 2008. Another £40m will be saved next year as ITV cuts back its regional news output.

Numis Securities predicts half-year pre-tax profits will fall to £85m from £105m last year. ITV has been hit by higher sport costs after paying for the rights to the Euro 2008 football tournament, lower income from premium-rate phone-ins and weak advertising.

HPI now going to affect TV stars salaries???

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  • 399 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?

      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%

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