Five announces company restructuring plan

05-Mar-2009
Contact: Paul Leather 020 7550 5541

Five has today (THURS) outlined its proposals for a comprehensive restructuring plan designed to strengthen the company by increasing both its efficiency and profitability.

 

The plan proposes significant changes to Five’s organisation including flatter management structures. Several key departments are earmarked for integration including the creation of a new Creative Unit to incorporate on-air and off-air marketing and creative services functions. Similarly, a new Legal and Commercial Affairs department would combine the legal and business affairs functions.

 

Five’s Chair and Chief Executive, Dawn Airey, said: “We are clearly in the midst of one of the most difficult financial environments in history; Five has therefore taken the necessary step to review all operations to ensure we continue to work as effectively and efficiently as possible.

 

“I am confident we are putting in place a new, streamlined structure which will ensure we remain the most agile and effective commercial broadcaster in the country. Unfortunately, the restructure raises the prospect of some positions being made redundant.”

 

Up to 87 positions out of a total workforce of 354 could be impacted. Five will be consulting with those departments and members of staff who are likely to be affected.

 

Today’s announcement is the latest stage in Five’s business review. The company has already undertaken stringent cost management across its channels allowing funds to be focused on more commercially valuable parts of the schedule such as peak-time.

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