STV to ‘cut 60 workers’ as channel AXES popular show

28/03/24….STV NEWS GATHERERS AND O9N SCREEN REPORTERS GO ON STRIKECredit: Les Gallagher

DOZENS of jobs are expected to be axed at STV as the broadcaster grapples with financial losses.

The company announced earlier today that it lost £200,000 before tax within the first six months of this year.

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Dozens of jobs are expected to be lost at STV amid financial lossesCredit: Les Gallagher

The Scottish Sun understands that STV chiefs are planning to cut 60 jobs.

A source also said that the Aberdeen news at six programme will be ditched.

Bosses at the national broadcaster are carrying out a “comprehensive cost savings programme to protect profitability”, following a “deterioration in the advertising and content commissioning markets”.

Advertising revenue dropped from £50.7million in the same period last year to £45.6m between January and June this year, a fall of 10 per cent.

STV bosses are seeking to save £3m annually in the coming years.

In the summer, STV’s share price slumped by a third after bosses issued a warning over profits.

First Minister John Swinney said: “I was concerned to hear this morning of the reports about STV.

“It is an absolutely vital part of our democracy that we have sustained media engagement.

“This will be a very worrying time for all of the effected employees and they have my understanding and my support.” 

The Scottish Greens also stand in solidarity with workers at STV following the announcement of significant cuts to the workforce.

The party’s culture spokesperson, Patrick Harvie, said: “These cuts are a serious blow to Scotland’s media landscape and will create a great deal of uncertainty and anxiety for workers and their families.

“At a time where misinformation is running rampant, it is crucial that we have good quality and objective news sources that we can rely on at both a national and regional level. STV has done that for homes all across our country.

“It doesn’t help that STV were in Parliament only last week offering MSPs their commitment to protecting news, current affairs as well as drama and entertainment, and painting an optimistic picture of the future. To do that just a week before this hugely damaging announcement is no way to build trust.

“Our solidarity is with all of the journalists, producers and workers at STV and everyone who is enriching our media. With recent cuts announced by Reach and others, these are difficult times for an industry that is needed more than ever.”

Despite the financial losses, STV Radio is still expected to be launched in the months ahead.

Rufus Radcliffe, STV’s chief executive, said: “I have every confidence that STV will navigate the currently difficult trading environment in both our key markets, successfully implement our FastFwd strategy, and deliver sustainable value to our shareholders.

“We recognise that our cost savings programme impacts colleagues across the business, and we are committed to supporting people through this change. These steps are necessary to strengthen our financial resilience and position STV for long-term growth.

“The launch of STV Radio is on track, viewing on the STV Player is at an all-time high, and we are delighted that Army of Shadows has been commissioned by Channel 4 from Two Cities.”

Read more on the Scottish Sun

STV News has studios in Glasgow and Aberdeen, with newsrooms located in Dundee, Edinburgh and Inverness.

In March last year, the broadcaster’s programming was thrown into turmoil after staff, including studio veterans John MacKay and Raman Bhardwaj, walked out amid a pay dispute.