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BBC To Lay Off Hundreds More Staff With Financial Deficit Projected To Nearly Double Next Year
The BBC is making 500 redundancies and its financial deficit will double, its annual report has revealed
Chief Operating Officer Leigh Tavaziva put this down to the “significant funding impact” of the government’s decision to increase the license fee by a lower-than-inflationary rise, which was rubberstamped by the Conservatives late last year. Writing in his report note, Director General Tim Davie said “below inflationary license fee settlements have chipped away at our income over many years and have put serious pressure on finances.” After posting record profits last year, turnover at the Tom Fussell-led unit dipped below £2B and EBITDA tumbled by more than 20% to £199M, while its 2023 operating surplus of £106M flipped to a deficit of £56M.
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