Sky Financial Review Could Cost Jobs

Sky’s chief operating officer, Richard Freudenstein, has confirmed that the broadcaster is considering several redundancies as part of its on-going effieciency review, revealed by NewsLine earlier this month.

It is believed that staff cuts will be made in the company’s finance and marketing departments, as well as within PR, IT, engineering and human resources.

However, reports this morning suggest that such redundancies will be much less than originally feared. Broadcast reports that rumours of a 10% cut in personel are inflated, and that any redundancies will account for less than 10% of the company’s workforce.

Speaking at a briefing to the company’s employee representative group, Sky Forum, Freudenstein explained: “We are currently finalising our thoughts in these areas and managers will share these with their department in the next few weeks. We need to control our costs at all times to maintain our competitiveness and profitability. This is critical to securing the future of the business for the vast majorities of our employees.”

Speaking to NewsLine earlier this month, a Sky spokesman stated that the company’s costs were under “permanent review,” but refused to rule out any job losses. “We do have a focus on costs.,” he explained. “Efficiency is a core priority for the company” (see Financial Review Hints At Job Losses At Sky).

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