BBC cost-reduction plan may cut 3,000 employees

The British Broadcasting Corp. could cut 3,000 staff over the next five years to cut costs amid a freeze in the U.K. licence fee, the Sunday Times reports without citing any sources.

The report said the BBC will submit a 20% budget reduction plan to the BBC Trust in the autumn that will see a sharp cut in its 17,000-strong permanent workforce.

It said the BBC’s cost-reduction plan is designed to cope with the freezing of licence fees at GBP145.50 per year until end-2016.

From: Market Watch