GB News is reportedly planning to cut 40 jobs as part of an effort to streamline spending.
The startup news broadcaster has spent heavily since its launch in 2021, both with high wages for onscreen talent including Eamonn Holmes, Nigel Farage and Boris Johnson, and also in broadcasting facilities including the recently-opened Westminster studios.
The channel employed close to 300 people as of its last set of accounts, but according to the Press Gazette, chief executive Angelos Frangopoulos told staff on Friday that he is looking to reduce that number by 40.
The publication said that employees have been offered to come forward for voluntary redundancy, "offering up to two months' salary and possible payment in lieu of notice as enticement".
The most recent set of GB News accounts - covering the year to May 2023 - showed an operating loss of £42.4m, up from £30.7m the year before.
According to the latest ratings data from BARB, GB News has an average audience share of 0.66%, compared to BBC News' 0.93%, Sky News' 0.73% and TalkTV's 0.13%.
Follow us on X/Twitter and like us on Facebook for the latest entertainment news alerts.
Media Mole Low-Price Offer: Get Sky Entertainment, Sky Stream & Netflix for just £19 a month + £0 upfront fee for 18 months!
Prices may change during this period. Ends 23rd May 2024
