TVNZ consulting with staff over new business structure

TVNZ is consulting with staff over proposed changes to the business, as the impact of Covid-19 hits advertising.

TVNZ CEO Kevin Kenrick Source: 1 NEWS

It could see 70 to 90 roles removed.

“TVNZ’s revenue dropped 30 per cent during the nationwide lockdown and we expect revenue momentum to recover gradually over the next 18 months," chief executive Kevin Kenrick said.

“TVNZ has already made substantial savings in areas of discretionary spending, executive remuneration, capital investment projects, and deferred content productions. These actions have enabled TVNZ to offset revenue losses for this quarter, and we now need to resize our business to safeguard the future of TVNZ.

“We expect to confirm the new business structure by early July and are focused on supporting our people as we move through this challenging time.”