Five cuts quarter of workforce

Five is to eliminate 87 jobs – nearly a quarter of its total workforce – as part of a major restructuring plan announced today by chair and chief executive Dawn Airey. The channel’s management structure is to be flatten with “several key departments” merged.
“We are clearly in the midst of one of the most difficult financial environments in history,” said Airey. “Five has therefore taken the necessary step to review all operations to ensure we continue to work as effectively and efficiently as possible.

“I am confident we are putting in place a new, streamlined structure which will ensure we remain the most agile and effective commercial broadcaster in the country. Unfortunately, the restructure raises the prospect of some positions being made redundant.”