Broadcaster SCA has just launched a series of jobs and budget cuts.
The level of redundancies is not known.
CEO John Kelly told staff of “challenging economic conditions” and “structural challenges” in the Australian media industry.
“Over the past year we have begun to see a build in momentum leading to improved results through a combination of improved across-the-board performance and a reduction in our operating cost base,” he said in an email.
“However, to maintain this momentum and further position the business for sustainable growth, it is essential that we now reduce our cost base wherever possible.”
Cuts will be across areas such as discretionary spend, programming, corporate overheads and the workforce.
“This means there will be further redundancies within the company,” he said.
He said SCA is focused on revitalising and future proofing the business.
“We are confident in our direction and progress to deliver on this commitment,” he said.
The company already has a tight grip on costs.
The company reported revenue down 2.9% to $252.6 million for the half year to December and net profit after tax at $4.4 million, a drop of 71.1%.
Then SCA said its strategic cost management review is ahead of target and would deliver about $20 million in savings in the current financial year.
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