The British Broadcasting Corporation (BBC News) is set to close up to 450 posts as the firm races towards attaining its £80 million ($88.1 million) savings target by 2022.
The company says that among the issues that have led to the new development include changing times in the way people want news delivered, which is driving them away from traditional broadcasting, and towards digital.
Furthermore, the move seeks to reduce their expenditure on the licence fee, which accounts for around 75% of the its revenue.
Some of the outlets that will be affected by the closures are BBC Two’s Newsnight, BBC Radio 5 Live and the World Update programme on the World Service.
We need to reshape BBC News for the next decade in a way which saves substantial amounts of money. We are spending too much of our resources on traditional linear broadcasting and not enough on digital.”
BBC News Director, Fran Unsworth
However, the corporation said specific information about which jobs will be cut, will be announced at a later date.
Earlier in 2016, BBC announced its intention to save £800 million by 2020, of which the news sector was to provide £80 million.
The British Broadcasting Corporation (BBC) is a British public service broadcaster. Its headquarters are at Broadcasting House in Westminster, London. It is the world’s oldest national broadcaster, and the largest broadcaster in the world by number of employees.