Renowned British news producer ITN is furloughing around 20 employees and its CEO Anna Mallett is taking a 20% pay cut amid the coronavirus pandemic.
ITN produces news for ITV, Channel 4 and ViacomCBS-owned Channel 5, while production unit ITN Productions is responsible for documentaries including the Oscar-nominated For Sama and Netflix show Drug Lords.
Employees were emailed on Friday about the cost reduction plans, which will impact around 3% of ITN’s 712-strong workforce in areas including sport production and advertising, although these divisions remain open for business. Frontline news staff will not be affected.
As well as Mallett, ITN’s chief financial and operations officer David Conway will have his salary reduced by 20%. ITN board members will also take a pay cut. The 20% cut is in line with other industry companies, with ITV and Channel 4 slashing pay at the same level for senior management.
ITN’s revenues stood at £127M ($159M) in 2018, according to its most recent earnings, returning an operating profit of £6.6m.