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ITV to Close Innovation Division
UK television broadcaster ITV is to close its innovation unit ITV Imagine as part of a cost-cutting exercise which will reduce headcount by around 1,000 in the next six months.
ITV Imagine was set up in 2006 as a central research and development resource combining creative development, content development and technology expertise. Its purpose was to analyse current culture, different media platforms and create TV formats, as well as provide consultancy services to agency and advertising partners.
According to the Guardian newspaper, the team of 14, including the division's Head Pele Cortizo-Burgess and former Research International Director Pamela Hamilton, will all leave as part of the closure.
ITV announced in September that it would be losing nearly 20% of its 5,500-strong workforce in an effort to make more than £80m in annual savings, and further cost savings, of £35m, across the company by 2010. The strategy followed news of a drastic fall in advertising revenue.
At the time, COO John Cresswell said in a statement: 'We are committed to a self-help, self-funding solution to securing ITV's future. In order to sustain our investment in UK content we have to keep on top of our cost base.'
Since the announcement, ITV has cut jobs in its press department and reduced overall group headcount by 425 positions.
An ITV spokeswoman declined to comment on the Imagine closure.
Web site: www.itv.com .
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