Deadline for Nine redundancies

Nine staff seeking to take a redundancy package have until February 15 to apply.

Nine Entertainment Co. CEO David Gyngell announced cost cuts last week under managing director Jeffrey Browne and Nine Events managing director Geoff Thomas.

The Australian reports the annual pay review will be deferred “for a time pending a significant improvement” in the weak TV ad market while company credit cards, excess leave and travel expenditure are also under scrutiny.

Browne sent an email to staff yesterday advising, “I am sure everyone appreciates the need to continue to be competitive in our television business and to make changes that allow us to do so, given the incredibly challenging times we confront.”

Nine has not disclosed the value of its cuts but there has been speculation of around 10% of annual expenditure.