"Sky is preparing to slash hundreds of jobs in the UK as the broadcaster continues to grapple with the shift away from satellite television towards streaming. The company has launched a consultation affecting 900 roles, with around 600 expected to go. The move marks the third major round of cuts at the business in less than two years, as it adjusts to declining demand for satellite-TV packages and ramps up its digital offerings."
"In a statement, the company said it would scale back on developing new products to focus instead on improving existing ones. "As we look ahead, we are shifting our approach to bring customers the next generation of experience by investing in digital-first service, unbeatable content and even better performance from our products, powered by the best of global innovation," a spokesperson said."
Sky has launched a consultation affecting 900 UK roles, with around 600 expected to be cut as the business shifts from satellite television toward streaming. The move is the third major round of reductions in less than two years as demand for satellite-TV packages declines and digital offerings expand. Sky employs about 23,000 people in the UK and has invested in streaming-focused set-top boxes and Sky Glass smart TVs to compete with Netflix and Disney+. Increased competition, including HBO Max entering the UK, and a recent advertising underpayment error have compounded financial pressures. Comcast has taken a multibillion-pound write-down on its Sky acquisition.
Read at Business Matters
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