News: Ten job cuts across all departments

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Ten Network Holdings Ltd (ASX:TEN) job cuts scheduled for next week will be across all departments according to a new report in the Australian Financial Review.



The 100 or more jobs to be lost will not only be from the news department, as yesterday’s media reports suggested. The redundancies will affect all areas, says one source quoted in the paper.



Ten executives would not comment on the cost saving they expected to generate from the retrenchments.



The company employs about 1400 staff.



In the six months to February 28, 2011 Ten reported a net profit of $49 million.