ITV has revealed that it has furloughed roughly 15% of its UK workforce as it bids to cut costs amid the coronavirus crisis that has shut down the majority of its productions and ravaged advertisin…
crisis that has shut down the majority of its productions and ravaged advertising revenue.
The company said its total external revenue dropped 7% to £694M in the first three months of the year, with ITV Studios’ turnover falling 11% to £342M and advertising income down 2% to £426M. ITV CEO Carolyn McCall said: “ITV has taken swift and decisive action to manage and mitigate the impact of COVID-19, by focusing on our people and their safety, and by continuing to reduce costs and tightly manage our cashflow and liquidity.
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