The Stage

Five announces job cuts

Published Thursday 5 March 2009 at 12:40 by Matthew Hemley

Five has become the latest broadcaster to unveil job cuts, announcing that up to 87 positions out of its current 354 workforce face redundancy.

Its plans follow news yesterday that ITV is to make a further 600 employees redundant, in addition to the 1,000 posts that were lost last year.

In an announcement today, Five said it had outlined "proposals for a comprehensive restructuring plan", which it said would "strengthen the company by increasing both its efficiency and profitability".

Five chair and chief executive Dawn Airey said the industry was in the "midst of one of the most difficult financial environments in history".

"Five has therefore taken the necessary step to review all operations to ensure we continue to work as effectively and efficiently as possible," she said.

"I am confident we are putting in place a new, streamlined structure which will ensure we remain the most agile and effective commercial broadcaster in the country."

In its statement, Five said several key departments had been "earmarked for integration", including the creation of a new creative unit that will incorporate on-air and off-air marketing and creative services functions.