Five threatens quarter of workforce

Further to existing "stringent" cost management exercises, Five has issued a statement warning of likely job cuts.

Following the news from ITV this week that it is to shed 600 jobs, Five says 87 positions out of a total workforce of 354 could be "impacted".

The job cuts might come as a result of a "comprehensive restructuring plan" that the broadcaster says is "designed to strengthen the company by increasing both its efficiency and profitability".

"We are clearly in the midst of one of the most difficult financial environments in history", said Dawn Airey, Five's chair and chief executive.

"I am confident we are putting in place a new, streamlined structure which will ensure we remain the most agile and effective commercial broadcaster in the country. Unfortunately, the restructure raises the prospect of some positions being made redundant".