The broadcaster is making what are thought to be the first redundancies in its 18-year history. About 100 staff are expected to go in the US as Bloomberg feels the impact from the economic crisis in the global financial sector, which contains many of its ad clients.
The company would not detail how many staff would go from its UK operation, although a spokesman confirmed to Media Week that there would be job cuts at both its UK-based TV channel and the wider UK Bloomberg operation across editorial, sales and other areas.
Bloomberg employs about 225 people at its UK-based TV channel and some 2,000 employees in London overall. The spokesman did add, however, that globally, some 1,000 staff would be hired this year.
The various foreign-language feeds of Bloomberg's news channel will go as it regroups into a global English-language news channel.
Bloomberg will also tweak its programming line-up. During weekends, for example, it will replace current arts and entertainment programming with news and analysis of business markets and politics.
The privately-owned company makes most of its revenue through customers in the financial services industry, who use the company's data. Its TV operation, reported to be loss-making, contributes a small part of global revenue.
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