BBC Exceeds Cost-Cutting Targets
The pubcaster has cut top management pay by 27% in a bid to cut it's overall spending by $1.07 billion million in two years.
London - The BBC said Thursday it had cut its overall senior management pay bill by 27 percent - two percentage points ahead of the target - as part of an ongoing cost-cutting program.
The pubcaster said its senior management salary had been cut by £21 million ($32.2 million) in two years - as part of an overall plan to cut $1.07 billion of it's overall spending.
The BBC said it has also has cut its overall senior management numbers by 24 percent - a total reduction of 156 executives.
The cuts are part of a program of overall spending pullbacks that were originally due to be delivered by 2013 - but were then accelerated to the end of 2011.
"Keeping salary costs under control is hugely important to us," said Lucy Adams, the BBC's director of business operations. "The reduction we have achieved are a reflection of our commitment to ensuring that we are delivering value for money."