In September, the broadcaster revealed plans to axe 1,000 jobs, almost a fifth of its 5,500 workforce, by next March. It has already announced plans to save £40m a year by cutting back on regional news output.
John Cresswell, ITV chief operating officer, writing in a memo to staff earlier this week, said: "These are extraordinary times for ITV - the economic outlook has worsened significantly since the summer and businesses right across the UK, including most of our customers, are facing considerable uncertainty.
"Analysts' current consensus is that total television advertising is expected to be down by around 5% in 2008 - and by 6% to 7% in 2009. The need for action is therefore urgent. We need to accelerate our plans to improve the efficiency of all our operations now," said Cresswell.
An ITV spokesman confirmed that BCG had been called in, but would not comment on the savings target.
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