ITV set to cut jobs as Brexit vote leaves it out of tune

ITV is set to axe around three per cent of its UK workforce as the Brexit vote left it battling.

The channel is cutting 120 jobs as part of saving £25m.

In the first nine months of the year, ITV forecast its advertising revenue to drop one per cent year on year. 

“At a time of political and economic uncertainty in our key markets, it’s important that we are in the strongest possible position to continue to invest in our strategy and to meet any challenges and opportunities ahead, as we continue to grow a successful business,” an ITV spokesman said.

“We have taken costs out across ITV in a managed and sensible way over the last six years and we must continue to keep a tight control on spending to ensure that we are operating as efficiently and effectively as possible whilst maximising our ability to invest in the high quality programming that drives ITV’s success.”