Channel 4 announces plans to make hundreds of staff redundant
CHANNEL 4 plans to move out of its London HQ and make hundreds of staff redundant.
The broadcaster said the Horseferry Road building would be closed and new office space found in the city centre.
It has previously committed to 600 roles being moved outside London by the end of 2025.
Yesterday, Channel 4 revealed the Fast Forward strategy, which also includes axing small linear channels such as music video station The Box and others, the broadcaster said.
Under the plans, the head count will be similar to 2021 levels by reducing current roles by 18 per cent – making around 200 staff redundant and axing around 40 unfilled roles – and getting rid of approximately 70 per cent of legacy operations staffing.
Channel 4 chief executive Alex Mahon said: “While getting ourselves into the right shape for the future is without doubt the right action to take, it does involve making difficult decisions.
“I am very sad that some of our excellent colleagues will lose their jobs because of the changes ahead.
“But the reality of the rapid downshift in the economy and advertising market demand we must change structurally.
“As we shift our centre of gravity from linear to digital, our proposals will focus cost reductions on legacy activity. In preparing for a new digital-first future, I hope we can make Channel 4 simpler – for staff and our suppliers – and create a more efficient, inclusive and high-performing organisation.”
Channel 4’s commissioning team would also be reorganised to drive more streaming content and there will be more focus on drama, highend documentaries, comedy and reality under the plans.
The Fast Forward strategy aims to increase digital revenue to 30 per cent in 2024 and 50 per cent by 2030.
Channel 4 has a substantial operation in Yorkshire. The company could not guarantee that Yorkshire would not be affected.
Channel 4 News launched its permanent newsroom in Leeds last year, with the daily bulletin set to be delivered from two national newsrooms as the broadcaster expands its commitment to nations and regions coverage.