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Layoffs Likely as Bloomberg TV Reviews London Operations

Bloomberg Television is launching a review of operational efficiencies in its UK broadcast division, a two-week process which will likely result in layoffs before the end of the year.

Bloomberg Media Group COO Paul Bascobert announced the review, which will focus on its engineering and back-office productions, to London-based staffers this afternoon. No decisions have been made yet about how many jobs will be eliminated, a Bloomberg TV spokesperson said.

“Bloomberg Television is reviewing its engineering and back-office production functions to improve operational efficiencies on a global scale. We remain dedicated to reporting European stories, companies and trends as well as the market developments during the European trading day with the same comprehensive focus,” the spokesperson told TVNewser. “We are firmly committed to the growth of our London and global business and project overall growth in London-based employment over the next year and beyond.”

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