BBC set to axe hundreds of jobs to save ‘an additional £200 million’ – London Business News | Londonlovesbusiness.com

The BBC has announced they will cut 500 jobs to save £200 million as part of a “reinvestment” plan to make changed to improve digital and premium video capabilities.

The BBC is already trying to save a further £500 million in a plan that was announced two years ago.

Chief operating adviser Leigh Tavaziva said that “significant” activity is already taking place making the BBC “more flexible.”

The chief operating adviser said, “In March this year we announced a requirement for an additional £200 million of savings and reinvestment plans to drive the continued transformation of the BBC.

“This will support greater investment into premium video content and further develop our digital capabilities.”

She added, “To further build our digital capabilities, whilst targeting efficiencies, over the next two years we will continue to close and transfer roles in some areas and create new roles in growth areas.

“This will result in a forecast net reduction of 500 roles in the public service by March 26, with further growth in targeted areas planned in our commercial group.

“To support these changes we will today be launching a new voluntary redundancy scheme for staff.

“Our priority remains to protect and champion the BBC’s fighting role as the UK’s public service broadcaster, for all our audiences both local and global.

“I would like to thank all colleagues for their continued efforts and commitments over the past 12 months.

“I am immensely proud of the exceptional content creativity, delivery, and innovation that our teams both provide and support every day.”