The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Media Programming, broadcasting, news agency and other content distribution activities Television programming, broadcasting and video distribution activities 60.2 - Television programming, broadcasting and video distribution activities
120 jobs Number of planned job losses
Announcement Date
24 October 2016
Employment effect (start)
Foreseen end date
Description
Broadcaster ITV has announced plans to cut 120 jobs from its 3,000 strong UK workforce. The confirmation of the job losses had been widely anticipated since ITV announced that it would seek to make GBP 25 million (€29 million) of savings following the outcome of the referendum on EU membership. The resultant instability generated by the exit vote has led ITV into seeking cost reductions as its predicted revenue from advertising is expected to fall. It is not yet known when the job losses will take effect, nor which parts of the business will be affected.
Sources
24 October 2016: The Guardian
Citation
Eurofound (2016), ITV, Internal restructuring in United Kingdom, factsheet number 89051, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/89051.
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