ITV and Five set to cut total of 600 jobs
HUNDREDS of jobs are expected to be culled from the broadcasters ITV and Five this week as the industry struggles with collapsed advertising revenue.
ITV is to deliver its full-year results on Wednesday and is expected to cut 500 posts in an efficiency review. Five, owned by RTL, is likely to cut 100 jobs on Thursday – nearly a third of its 350-strong workforce, according to weekend reports. A Five spokesman confirmed the company would be speaking to staff.
Advertising for the big broadcasters is estimated to have collapsed by as much as 20 per cent in the past year.
It was reported last week that ITV had drawn up plans to create a major broadcasting player to rival the BBC by merging with Channel 4 and Five. But a source close to Five said ITV had not contacted it about the idea.
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Friday 25 May 2012
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