Five to cut one in four workers

Channel Five is set to make one in four staff redundant following a comprehensive restructuring plan in “the midst of one of the most difficult financial environments in history”.

Five today announced plans to significantly change its organisation and management structures, which will involve merging a number of key departments such as marketing, creative, legal and commercial affairs.

The broadcaster has confirmed that up to 87 positions out of a total workforce of 354 could be affected by the restructuring plans, which form part of Five’s new efficiency drive.

Five’s chair and chief executive, Dawn Airey, said: “We are clearly 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.

“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. Unfortunately, the restructure raises the prospect of some positions being made redundant,” she added.

Airey warned staff last year that job cuts were a possibility as part of a root and branch review of the company, which consultancy Eden McCallum started last October.

Last month, Airey told the House of Lords that the broadcaster was expecting a “very significant” 10% decline in ad revenues this year.

As a result, Five has already undertaken stringent cost management across its business, including dropping talk show host Trisha Goddard, to allow “funds to be focused on more commercially valuable parts of the schedule such as peak-time”.