The Guardian reports that new owner of the UK’s Channel Five Richard Desmond is looking to reduce his staff complement of 300 by more than 25%. First in the firing line are seven of the nine executive board directors.
This is part of Desmond’s drive to cut £20m from the business. Desmond acquired Channel Five last month for £103.5m.
He plans to invest about £300m annually in the channel over the next five years.
