BBC to Cut Pay, Jobs

British Broadcasting Corp. plans to slash salaries, staff.

Last Updated: October 30, 2009 @ 6:28 AM

Under pressure over its pay practices, British Broadcasting Corp. plans to cut the salaries of top managers and axe more than 100 senior posts as part of a broader overhaul to cut costs.

The BBC, which is funded by a license fee paid by the public, plans to cut the amount it spends on the salaries of its top bosses by about 25 percent, according to the BBC Trust. The BBC Trust oversees the use of the license fee and had asked management to cut salaries as part of a review into ways to save money. The BBC currently spends about $129.4 million on pay for its 634 senior managers and nine most senior executives.

Read more from the Wall Street Journal.