Bloomberg cuts back TV service as it axes 100 jobs
Quelle / Komplette Meldung:Financial news organisation Bloomberg is to cut its foreign-language TV services back to one global English-language station as it makes its first big redundancies since it was founded in 1981.
About 100 staff will go from the company's US staff, while the numbers to be cut from its UK, European and Asian services will be evaluated.
The chief executive of Bloomberg's multimedia division, Andrew Lack, told staff today that cutting back to one global service would "make better use of our resources and eliminate duplicative efforts across the channels".
Bloomberg runs a string of foreign-language TV channels across the Americas, Europe and Asia, including in Italy, Spain, Germany, Japan and China.
"Wherever they are, day and night, Bloomberg TV viewers will see Bloomberg reporters covering the markets, business news, geopolitics and all the world's economies," said Lack.
"Teams of Bloomberg beat reporters will deliver real-time reports from every major financial centre – in the US, Asia and Europe - as the news happens, with insight not available on any other television network.
"We will continue to produce all of our own programming, using our local news presence and our global reach."
He added that on the weekend Bloomberg will replace current arts and entertainment programming with news and analysis of the markets and politics.
Lack said that while Bloomberg is hiring almost 1,000 new employees across a range of divisions there was a need to restructure the broadcast operation.
The TV service is estimated to lose about $20m a year. Bloomberg has previously been prepared to bear the cost because it regarded the TV channels as marketing for its profitable financial information terminals, used by City traders and the financial industry.
http://www.guardian.co.uk/media/2009/fe ... dundancies