STV to cut 10% of workforce

STV is to cull 10% of its workforce as part of the latest wave of cost-cutting measures announced today.

The Scottish broadcasting and production group unveiled a £3m savings programme to protect profitability in response to the deterioration in advertising and content commissioning markets.

The jobs cuts will impact 60 roles – approximately a tenth of total staff – with STV’s chief executive Rufus Radcliffe stating: “We have done everything we can to limit the impact of cost savings on our people.

“We are now going into consultation and are committed to supporting our people through this period of necessary change.”

The business recorded an adjusted operating profit decline of more than a third (37%) today in its interim results for the first six months of 2025, with profit at £6.7m, down from £10.6m last year.

However, its revenue remained broadly level at £90m compared with 2024.

“What today is about is taking steps to ensure that we are in a good position for when the market recovers and this includes a comprehensive cost savings plan,” Radcliffe told Broadcast.

The chief exec did not elaborate on which departments would be impacted by these job losses.

Following a trading update in July, which issued a profit warning, it is also understood the group implemented a recruitment freeze amid a reviewed of its STV Studios labels, leading to the decision today to cease investment in Mighty Productions and end development activity at STV Entertainment.

“We’ll continue to make Celebrity Catchphrase, Bridge of Lies and Celebrity Bridge of Lies” Radcliffe said. “They are very popular, much-loved shows and we’ll continue to make them but we announced no further development.

“In terms of the future, we have a really strong mix of labels and very strong creative leaders and a good development pipeline, so we think we’ve got the right portfolio moving forward but this has been part of a much bigger cost savings plan for the whole organisation.”

STV’s operational changes also encapsulated a restructuring of STV’s broadcast and digital divisions, which was unveiled in May.

“These savings are being made in response to difficult trading conditions in the advertising and content commissioning markets, and a structural change in viewing habits, both of which are significantly impacting the business” said Radcliffe.

“We remain confident in the strategic direction and long-term ambitions for the company. Our priority is supporting our colleagues through the consultation period that started today.”