ITV to axe 1,000 jobs
1 October 2008 09:49
The broadcaster has recently suffered a loss of £36 million and is attempting to make up for the loss by cutting almost a fifth of its 5,500-strong workforce.
Worryingly, almost half (430 posts) are being cut from the company's regional news division, prompting fears that the quality of the output will fall dramatically.
One senior source told the Daily Mail: "This should not have come as a surprise. The economic outlook is bleak and this is a sensible business strategy. The next year is going to be pretty horrible, but we want to protect programming as much as possible.
"If we don’t find ways to cut costs, then there just will not be the money for content."
The recruitment of advertisement-reliant media has long been an issue, as fears over job cuts have lingered since the economic decline began last year.
Next year has already been billed as a likely "horror show" for ad-reliant media as organisations of all kinds are tightening their budgets.
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