Channel 4 is set to slash its workforce by 28 percent — approximately 340 roles — by the end of the year, as the U.K. broadcaster unveils a “long-term transformation strategy.”
On Wednesday, CEO Priya Dogra shared proposals for a new organizational design in a bid to “create a simpler, more focused organization that directs a greater proportion of its revenues towards distinctive British content.”
This will help Channel 4 “own our future,” as the cash-strapped public service broadcasters fight to stay afloat amid an oversaturated market in which the streamers and YouTube dominate. A comprehensive review at Channel 4 began earlier this year, taking place against the backdrop of a “rapidly changing media landscape, including evolving audience habits, increasing global competition, a challenging consumer environment and a volatile advertising market,” the company said.
Dogra said on Wednesday: “Today marks the first phase of our transformation, ensuring Channel 4 is the right shape and size to deliver its future strategy and focus investment in the programs audiences love.”
“The challenges we face require a fundamental transformation in how we work,” she continued, acknowledging that the proposals will be “very difficult for many colleagues” and will have “a significant impact” on the company. “Many talented people who have made an enormous contribution to Channel 4 will be leaving as a result.”
