Ofcom will have to cut 170 jobs, almost 20 per cent of its workforce, and reduce its £143 million (E160m) budget by 28.2 per cent in real terms over the next four years to meet the government’s costing savings targets. The regulator will see its budget fall by £30 million in nominal terms to £112.7 million in 2014/15.
Ofcom’s cuts follow a review of the regulator’s structure started by chief executive Ed Richards in July. “We also need to re-focus Ofcom in the light of changing markets and technological developments, and of course in respect of the budgetary constraints. This is why we have taken the initiative and today set out detailed proposals for both reducing expenditure and achieving greater strategic focus and organisational effectiveness,” he said.