Technicolor is reorganising its Grass Valley division resulting in the loss of 625 jobs worldwide.

The French media company said the move would enable Grass Valley “to adapt to a strongly deteriorated business climate” caused by declining broadcaster budgets and lower spending on advertising.

Grass Valley’s sales have fallen 31% since the end of 2008.

It made pre-tax loss of $117 million last year.

The proposed job cuts equate to 25% of Grass Valley’s workforce and will include redundancies in all of its operations in America and Europe.

Grass Valley has been up for sale since 2009.