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Germany suffers record slump in factory orders amid Covid-19 lockdown – business live






ITV furloughs 800 staff as ad revenues slump

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ITV has revealed the scale of the impact of the coronavirus, by furloughing 800 staff as advertising slumped 42% last month.

The broadcaster said it will reduce overhead costs by £60m this year, an increase in its previously announced £30m, and has withdrawn its final dividend for 2019.

Other actions include furloughing 800 staff, about 15% of ITV’s UK workforce, mostly in ITV Studios after TV and film production was shutdown nationwide in mid-March.

The broadcaster has also reached an agreement with its pension trustees and tax authorities to delay at least £150m of payments due by June, to the second half and into 2021.

ITV, which earlier this week announced that its flagship summer programme Love Island will be cancelled this year, said that it is working on a “phased approach to office re-entry” and a “return to production protocol” to re-start programme production.

Carolyn McCall, chief executive of ITV says:


“We are now very focused on emerging from this crisis in a strong position, continuing to offer advertisers effective marketing opportunities and making preparations to restart productions safely.”

ITV said that total viewing hours were up 2% in the year to the end of March, while viewing of shows on streaming service ITV Hub was up 75% year-on-year to 169m hours.





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