UTV staff facing redundancies
Compulsory redundancies are set to be made at UTV in Belfast, the Belfast Telegraph understands.
The plc, which operates the ITV franchise in Northern Ireland, owns 23 radio stations and digital agency Simply Zesty, refused to comment on plans to reduce staffing numbers across the group, which extends into the Republic and other parts of the UK.
A spokeswoman said: "UTV does not comment on staff matters." However, it's believed Belfast staff were told last Friday that compulsory redundancies are to be made though they remain in the dark about where and when cuts will be made.
Past voluntary redundancies from the broadcaster have been generous. However, those targeted in compulsory lay-offs are expected to be given statutory redundancy with a few months' pay depending on service.
UTV Media plc is the only Northern Ireland company to be listed on the main London Stock Exchange. In interim results for the first quarter of this year, group revenue was down year-on-year from £29.5m to £28.1m.