Channel 4 to Cut Nearly 250 Jobs Amid Advertising Slump

The British broadcaster faces a steep decline in advertising revenue, prompting its largest ever round of cutbacks.

Channel 4, a state-owned but commercially funded British broadcaster, is set to announce plans to cut nearly 250 jobs, representing about 15% of its full-time workforce.
The job cuts are a response to a steep decline in the broadcast advertising market, with revenues for 2023 expected to be between 8% and 9% below the previous year's.
The broadcaster is considering using its emergency £75m overdraft to shore up its finances, as it faces a deficit.
The cuts are expected to heavily affect the traditional broadcast TV division, which has been hardest hit by the downturn in advertising.
The current ad slump comes less than a year after Channel 4 avoided a government attempt at privatisation.