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Ten to offer voluntary redundancies
Ten to offer voluntary redundancies

UPDATE 11.35am: The Ten Network has briefed its Perth-based staff this morning about the company’s plan to call for voluntary redundancies across its business, but no decision has been made on how many local jobs might be lost.

A spokeswoman for Ten said redundancies had not yet been called for and it was not yet known how many jobs would go across the network.

The redundancies would be offered to both news and operations staff.

The spokeswoman said forced redundancies might be considered if the voluntary scheme was undersubscribed.

The network is planning to move to a "centralised news desk" but local bulletins for each state will remain.

Chief executive James Warburton said during Ten's full year results presentation this morning the decision to offer voluntary redundancies came out of the company's strategic review, which commenced earlier in 2012.

"Today we have started to communicate the outcome of that review to our staff and one of those key communications is a change program that we are driving through our news and operations division," Mr Warburton said.

"Discussions around the details of that plan as I said are starting today with our staff, but it will involve a voluntary redundancy program.

"In addition, core elements include new ways to gather and present news, taking advantage of rapidly changing technology in all parts of the news process."

Ten has struggled in the ratings so far in calendar 2012, with shows such as Everybody Dance Now - hosted by Ten director Lachlan Murdoch's wife Sarah Murdoch - The Shire and I Will Survive failing to fire.

Industry figures showed Ten had just 25.5 per cent of the capital city television advertising market in the six months to June 30, 2012, well behind Seven's 40 per cent and Nine's 34.5 per cent.

And figures for September suggested Ten's advertising share had dropped further.

Mr Warburton said it was too early to say how many staff were expected to go as part of the voluntary redundancy program.

Ten reported a net loss of $12.9 million for the 12 months to August 31, 2012, compared with net profit of $14.2 million in the prior corresponding period.

The fiscal 2012 net loss was affected by $23.7 million in non-recurring costs, including redundancy costs, impairment charges on its outdoor advertising business and writedowns on its investment in OurDeal Pty Ltd.

Revenue declined 13.7 per cent to $861.8 million, Ten said in a statement.

Ten shares were up 0.2 cents to 31.2 cents at 11.35am.