News Broadcasting
ETC Networks net down 63 per cent
ETC Networks Limited announced its Q-3 results for the year 2001-2002 with net profit going down by 63 per cent from Rs 3.8 million in Q2 to Rs 1.39 million.
Exceptional item* amounting to Rs 15.25 million has put pressure on the net profit of the Company. But at the same time company has made provision for tax only for Rs 0.11 million for the quarter stating that deferred taxation will be made at the year end.
The total Income has gone down by 16 per cent from Rs 84.6 million in Q2 to Rs 71.33 million in Q3. (The total income is going down since Q1, the reason stated for the same earlier is due to discontinuation of its South Indian Operations.)
staff costs had remained almost at the same level while sales and administration costs has gone down from Rs 25.70 million to Rs 14.8 million.
ETC Networks Limited, the media company listed at BSE owns the Hindi channel etc and regional channel etc Channel Punjabi. On the Bombay Stock Exchange, the share price of the company responded negatively. It went down by 7.5 per cent to Rs 27 from Rs 29.2 while BSE indicator went up marginally by 0.22 per cent to 3384.
(*The exceptional item represents debts aggregating to Rs.15.22 million pertaining to operations which have been discontinued during the previous financial year.)
News Broadcasting
BBC to cut up to 2,000 jobs in biggest overhaul in 15 years
Cost pressures and leadership change drive major workforce reduction plan
LONDON: BBC has unveiled plans to cut up to 2,000 jobs, roughly 10 per cent of its global workforce, in what marks its biggest downsizing in 15 years.
The announcement was made during an all-staff meeting led by interim director-general Rhodri Talfan Davies, as the broadcaster moves to tackle mounting financial pressures and reshape its operations.
Between 1,800 and 2,000 roles are expected to be eliminated from a workforce of around 21,500. The cuts form part of a broader plan to save £500 million over the next two years, aimed at offsetting rising costs, stagnating licence fee income and weaker commercial revenues.
In a communication to staff, BBC interim director-general Rhodri Talfan Davies said, “I know this creates real uncertainty, but we wanted to be open about the challenge,” acknowledging the impact the move would have across the organisation.
The restructuring comes at a time of leadership transition. Former director-general Tim Davie stepped down earlier this month, with Matt Brittin, a former Google executive, set to take over the role on May 18, 2026.
While some cost-cutting measures are being implemented immediately, the majority of the structural changes are expected to roll out over the next few years, with full savings targeted by the 2027–2028 financial year.
The broadcaster had earlier signalled its intent to reduce its cost base by around 10 per cent over a three-year period, warning of “difficult choices” as it adapts to shifting economic realities and audience expectations.
With operating costs hovering around £6 billion annually, the BBC’s latest move underscores the scale of the financial challenge it faces, as it balances public service commitments with the need for long-term sustainability in an increasingly competitive media landscape.
