ITV, Britain's largest commercial broadcaster, is to cut around 1,000 jobs including 430 from its regional news department as part of a cost-cutting drive sparked by challenging market conditions.
The UK broadcaster said it had already reduced its overall group headcount by almost 425 positions and a further 75 roles were in the final stages of consultation, following a restructuring of certain departments including finance and press.
In total, and including company disposals, ITV expects to reduce headcount by around 1,000 posts over 2008 and the first two months of 2009, it said. The group currently has a headcount of around 5,500, a spokesman said.
ITV, which also started a review of its technology department, has proposed restructuring its model for providing regional news which will allow it to make £40m sterling of savings.
It also announced the acquisition of a majority stake in German-based production company Imago for cash upfront of €2m on completion with a further cash payment of €3.7m based on Imago's profit performance.
The company said the acquisition fitted with its plan to expand production abroad, which can lead to formats being sold and programmes distributed to other markets.
