Channel 4 braces itself for more than 200 job cuts

Channel 4 is preparing for over 200 job cuts due to the TV industry facing its most severe advertising downturn since 2008.

The broadcaster about Channel 4 said the TV industry was reeling from the worst advertising downturn since 2008.

Chief executive Alex Mahon expressed regret over the closure of approximately 40 vacant positions, resulting in an 18% reduction in the current workforce.

“While I am saddened by the prospect of losing some of our outstanding colleagues,” Mahon stated, “the economic downturn and shifts in advertising demand necessitate structural changes.”

She emphasized that Channel 4’s new strategy aims to uphold its status as a “trusted, disruptive, and distinctive brand.”

The broadcaster aims to increase digital revenues, which constituted 27% of its total last year, to surpass 50% by 2030.

In November, Ms. Mahon highlighted that the television industry was experiencing its most severe advertising downturn since 2008, anticipating the company to incur losses in each of the upcoming two years.

Channel 4, although publicly owned, does not receive public funding and relies significantly on advertising revenues.

The anticipated wave of cuts is expected to exert pressure on the staff based in London, particularly following the broadcaster’s reaffirmed commitment to relocating 600 positions out of the city by 2025.

The current headquarters situated on Horseferry Road will be shuttered, with plans underway to secure new office space in the heart of the capital.

The network, established in 1982, has already reduced its programming budget to £713 million and has canceled shows like SAS: Who Dares Wins, The Big Narstie Show, and Steph’s Packed Lunch.

On Monday, it announced a commitment to prioritize impactful content with fewer, stronger new titles to enhance visibility.

Despite the government shelving plans to privatize Channel 4 last year, the broadcaster has been exploring ways to transition into digital broadcasting to compete with online streaming services.

Emphasizing a digital-first approach, Channel 4 plans to invest in programming that fosters growth, such as drama, high-quality documentaries, comedy, and reality shows, while targeting younger audiences on platforms like YouTube.