CHANNEL 4 ANNOUNCE REDUNDANCIES, OFFICE CLOSURE, COMMISSIONING REDUCTION AND CLOSURE OF CHANNELS

Channel 4 have announced 200 redundancies, the plans to move out of their flagship office in London, the reduction in commissioning for E4 and the closer of linear channels . Their press release can be read in full here.

Channel 4 are proposing to reduce headcount by 18% – around 200 redundancies and the closure of approximately 40 unfilled roles. Around 70% of roles closed would be out of legacy operations. This would return headcount close to 2021 levels, but with the organisation "in the right shape to deliver further digital growth and lead public service media into the future".

Also proposed is moving out of Channel 4’s London base in the next few years. With 600 roles based outside of London by the end of 2025, lower headcount in London overall, and a shift to flexible working, Channel 4 will find a new fit-for-purpose office space in central London

Plus, proposing to close small linear channels that no longer deliver revenues or public value at scale, including the Box channels in 2024 and others at the right time

Alex Mahon, CEO, said: "Channel 4 was designed to be ahead of the curve and has never stood still. The rate of change in our market is only speeding up. Our new strategy will accelerate our digital transformation - building on 2020's Future4 strategy and our founding public service principles - so Channel 4 remains a trusted, disruptive and distinctive brand into the 2030s, offering brilliant shows that people love and that matter...

"We are genuinely excited about the future. Channel 4 means something to British people – we are trusted, we are a beacon for quality, we stand out for fresh and exciting ideas that matter and will be even more important in a crowded landscape of global content...

"While getting ourselves into the right shape for the future is without doubt the right action to take, it does involve making difficult decisions. I am very sad that some of our excellent colleagues will lose their jobs because of the changes ahead. But the reality of the rapid downshift in the UK economy and advertising market demand that we must change structurally...

"As we shift our centre of gravity from linear to digital our proposals will focus cost reductions on legacy activity. In preparing for a new digital-first future, I hope we can make Channel 4 simpler – for staff and our suppliers – and create a more efficient, inclusive and high performing organisation.”