All executive and non-executive Board members have taken an immediate voluntary 20 per cent pay cut
By Jenny Priestley
Published: April 8, 2020
All executive and non-executive Board members have taken an immediate voluntary 20 per cent pay cut
target=_blank title=Share on LinkedIn class=share-linkedin> All executive and non-executive Board members have taken an immediate voluntary 20 per cent pay cut
https://www.tvbeurope.com/business/channel-4-to-furlough-staff title=Share via Email class=share-email>
Channel 4 has announced it plans to furlough 10 per cent of its staff as it aims to navigate the ongoing impact of the coronavirus pandemic.
The broadcaster said it will participate in the government's Coronavirus Job Retention Scheme and is opening discussions on furloughing with around 10 per cent of Channel 4 staff, whose roles are impacted by the current circumstances.
The company also announced all executive and non-executive Board members have taken an immediate voluntary 20 per cent pay cut. At the request of the executive Board members the remuneration committee has decided to suspend the 2020 bonus scheme for executive directors.
Content budgets have also been hit, with a reduction of £150 million. Channel 4 said the decision reflects both the difficulties of producing programmes and films in the current environment, as well as decisions to delay or cancel some content across Channel 4, E4 and More 4 across the year.
The announcement also revealed the broadcaster has drawn down on its commercial £75 million revolving credit facility (RCF) that has been in place since 2018 in order to provide additional liquidity and working capital.
Alex Mahon, Channel 4's CEO said: As a commercially funded business the Covid-19 outbreak has had a severe impact on our advertising revenues and so we are taking action now to manage our costs appropriately and ensure that we both protect our staff and our ongoing ability to serve our audience.
We know that these are exceptionally challenging times for everyone in the UK, particularly many of the producers, talent and freelancers we work with across the television and creative industries and we are committed to safeguarding our long-term ability to invest in distinctive and challenging content and create jobs and opportunities in the sector across the UK.
Most recent headlines
05/01/2027
Worlds first 802.15.4ab-UWB chip verified by Calterah and Rohde & Schwarz to be ...
04/08/2026
Dalet, a leading technology and service provider for media-rich organizations, t...
04/07/2026
April 7 2026, 19:00 (PDT) Detective Conan: Fallen Angel of the Highway Opens in...
01/06/2026
January 6 2026, 05:30 (PST) Dolby Sets the New Standard for Premium Entertainment at CES 2026
Throughout the week, Dolby brings to life the latest innovatio...
07/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
07/05/2026
Recreating the 1974 Doctor Who Time Tunnel in After Effects
Graham Quince May 6, 2026
0 Comments
The Time Tunnel from Doctor Who titles is one of th...
06/05/2026
Gravity Media Chief RF Communications Engineer Glenn Willems uses Wisycom RF over Fiber and wireless solutions across major cycling events and international mar...
06/05/2026
A Sennheiser Spectera module is now available in Bitfocus Companion and Buttons, enabling direct integration of Spectera with the two software platforms. The mo...
06/05/2026
Ted Turner, the visionary media entrepreneur whose appetite for disruption helpe...
06/05/2026
Peacock is going all-in on the beautiful game - streaming all 104 FIFA World Cup...
06/05/2026
New pricing tiers for vocal/dialogue restoration tool
NoiseWorks Audio's AI-powered vocal and dialogue processing plug-in is now available in three diff...
06/05/2026
Popular mixing & routing software overhauled
Following a recent public beta test, RME have launched the final release version of the powerful mixing and rou...
06/05/2026
New SOS Video Feature
Focusrites ISA C8X is a milestone product that brings together the companys analogue heritage and their expertise in digital audio. Yo...
06/05/2026
Polands Miecznik-class frigates are part of the largest contract in Polish shipbuilding history. (Image Credit: PGZ Stocznia Wojenna)...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Riedel Communications today announced the expansion of its leadership structure as part of a strategic initiative to strengthen both its operational management ...
06/05/2026
For nearly three decades, Veteran Production Sound Mixer and Five-time Emmy Award Winner Dirk Sciarrotta has helped define the sonic identity of the long-runnin...
06/05/2026
ZEISS CinCraft LensCore: Cinema Lens Looks for Compositing
Brie Clayton May 6, 2026
0 Comments
ZEISS announces the launch of CinCraft LensCore, a nove...
06/05/2026
Wisycom Solves Extreme RF Challenges Across Miles of Live Action for Gravity Med...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Narrative Entertainment has partnered with Encompass to deliver high-quality subtitling of its Great! network content using the Altitude Intelligence AI assiste...
06/05/2026
SipRadius, widely recognized for making content processing and connectivity secure and seamless, is proud to launch a dramatic new approach to AI content creati...
06/05/2026
When the broadband and media industry gathers at ANGA COM in Cologne from May 19 to 21, Big Blue Marble will be at the forefront. The international broadcast an...
06/05/2026
Cinegy GmbH, a leading developer of software-defined television technology, is proud to exhibit at MPTS for the first time. Visitors to the stand will discover ...
06/05/2026
Val Jeanty Receives 2026 Doris Duke Artist Award Jeanty, a composer, percussionist, and turntablist, is the fourth Berklee recipient of the prestigious award ...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
Share
Copy link
Facebook
X
Linkedin
Bluesky
Email...
06/05/2026
When live cycling races and international marathons stretch for miles across cities and countryside, there is no margin for RF failure in live broadcast. As Chi...
06/05/2026
Oberkochen/Germany, May 5, 2026
ZEISS announces the launch of CinCraft LensCore, a novel solution for creating physically based cinematic lens looks for visual...
06/05/2026
06 May 2026
VEON's Kyivstar Authorized to Resell Starlink for Businesses & ...
06/05/2026
UKTV has secured the exclusive rights to the early back catalogue of iconic Australian drama series Neighbours, following a landmark content deal with Fremantle...
06/05/2026
Wednesday 6 May 2026
Sky commissions feature documentary to mark 10th anniversa...
06/05/2026
Wednesday 6 May 2026
Sky and Formula 1 agree long-term partnership across UK, Ireland and Italy
Sky in the UK & Ireland to remain the home of Formula 1 until ...
06/05/2026
Sky Zero Footprint Fund-backed TV campaign launches nationwide, supported by new...
06/05/2026
Wuppertal May 6, 2026
Riedel Expands Leadership Structure, Appoints Marc Engro...
06/05/2026
SAN JOSE, Calif. - May 6, 2026 - Harmonic (NASDAQ: HLIT) today announced its latest broadband innovations for ANGA COM 2026, highlighting its vision for a new e...
06/05/2026
Statement from Rupert Murdoch, Chairman Emeritus, Fox Corporation on Ted Turner&...
06/05/2026
Friday 8 May on RT One and RT Player
Meet the NSPCA team caring for and protecting animals in need in this six-part series
Fly on the wall, six-part series...
06/05/2026
The race to build the world's most powerful AI factories demands networking ...
06/05/2026
How changes to proteins can alter drug interactions for new precision therapies Scripps Research team maps how chemical modifications to proteins affect drug bi...
05/05/2026
Experts from the world of academia, tech, business, politics and media convened for a Thomson Talks at the Cambridge Disinformation Summit in April. It's th...
05/05/2026
Three phones were hardwired for power and transmission to the truck; camera feat...
05/05/2026
The creative studio behind campaigns for the NBA, Fanatics Sportsbook & Casino, ...
05/05/2026
Nielsen has announced results from a co-viewing pilot program covering February&...
All executive and non-executive Board members have taken an immediate voluntary 20 per cent pay cut
