20 Feb 2009

TVNZ feels pinch: jobs may go

8:58 pm on 20 February 2009

Television New Zealand may have to shed jobs, as it responds to an accelerating slide in its advertising revenue.

TVNZ chief executive Rick Ellis sent a message to all staff on Friday morning informing them that the company needs to take immediate steps to reduce spending by $25 million before the end of the current financial year.

Company spokesperson Megan Richards says TVNZ's executive will meet with some senior staff over the next fortnight to discuss options. She says staff have been told that redundancies are possible.

Ms Richards says the problems faced by TVNZ are similar to those faced by other advertising-dependent media companies.

The country's largest union is calling on the Government to forgo its annual dividend in TVNZ as job cuts loom at the state broadcaster.

Public Service Association national secretary Richard Wagstaff says the most obvious thing the Government can do is forgo the dividend it receives from the broadcaster.

Last year the Government received a $10 million dividend from TVNZ.

The union says it expects to know what steps TVNZ will take in about a week.