ITV has put more than 200 job vacancies on pause until at least the end of June as part of a cost-cutting plan to steer the broadcaster through a tough economic climate.
The company-wide recruitment freeze wards off for now the prospect of redundancies at the broadcaster, which is also clamping down on costs related to expenses, training, travel, entertainment and pay.
Broadcast has published details of an internal note from ITV chief financial officer and chief operating officer Chris Kennedy and chief people officer David Osborn outlining that the broadcaster is “taking action to strengthen our cost controls to reduce spend”.
The execs explain: “The economic environment remains really tough. This is having an impact on all media businesses and, as a result, virtually every company across the industry is taking action to reduce costs…
“We’ll review progress half way through the year and if we can relax these controls, we will. If we need to strengthen them further, we will.”
The strategy currently protects production costs in ITV News, Sport and ITV Studios.
Details of the freeze come ahead of ITV’s 2023 financial results, which it will reveal next month.
It also follows Channel 4 announcement that it is cutting 240 jobs and preparing to move out of its Horseferry Road building.
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