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British broadcaster Channel 4 is reportedly preparing to eliminate nearly 250 jobs.
This move comes as the company faces a decline in advertising demand, impacting its business model.
The proposed job cut affects about 15 percent of its 1,300 full-time staff.
CEO Alex Mahon expects to communicate the reductions to employees this week.
The decision aims to reduce a wage bill that has surged past £100 million following a period of expansion.
The firm began restructuring last year to enhance its digital streaming strategy and safeguard its £700m program budget.
Channel 4, like other national broadcasters, is grappling with competing against international streaming giants like Netflix, Amazon, and Apple.
The broadcaster also faces the impact of a global advertising downturn as businesses prepare for potential economic downturns.
The announcement, potentially set for Monday, follows reports by the Guardian three weeks ago.
Channel 4 has already made cuts to several shows, including "Steph’s Packed Lunch," "SAS: Who Dares Wins," and "The Big Narstie Show," affecting various production companies.
Although state-owned, Channel 4 relies heavily on advertising, constituting two-thirds of its budget, making it susceptible to market fluctuations.
Last year, the UK government contemplated privatising the channel but ultimately decided against it.
The expected job reductions would disproportionately affect London-based employees,
This is to align with previous commitments to boost employment in other UK regions.
The cuts could surpass the 200 layoffs during the 2008 global financial crisis.
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In November, Mahon said the current advertising slump was the most severe since that period.
A Channel 4 spokesperson said it was “a wholly commercially funded and self-reliant broadcaster known for producing iconoclastic programmes and generating enormous value for the UK creative economy”.
“Like every organisation, we are having to deal with an extremely uncertain economy in the short term and the need to accelerate our transformation to become a wholly digital public service broadcaster in the long term.
“As a result, we need to continue to divest from our linear channels business and simplify our operations to become a leaner organisation.”
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