World Economy
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BBC Cutting Jobs

BBC Cutting JobsBBC Cutting Jobs

The BBC is to cut 1,000 jobs because of a £150 million ($234.2 million) budget gap in its license fee income, BBC reported. An unexpected increase in the number of households saying they do not watch live TV so do not pay for a license has been blamed for the shortfall. Many cuts are to come from professional and support areas, while management structures will be streamlined. BBC director general Tony Hall says this will save around £50m a year so more cuts will come. Lord Hall said the BBC was facing “difficult choices” because of the tough financial climate.

Financialtribune.com