Channel 4’s move out of London will cost at least £50m, with the number of staff seeking redundancy payments in preference to leaving the capital running at more than 80% in some departments.
Channel 4 is understood to be planning for a bill of more than £50m over the next three years as it seeks to rebalance its operation across the UK, including moving 300 of its 800 staff out of its London headquarters.
The broadcaster is in consultation with staff over relocating to its new national HQ planned for Leeds, and two “creative hubs” in Bristol and Glasgow, with the first departments expected to move over the summer. It is understood that some have indicated that as many as 90% of staff would take redundancy rather than move.
Channel 4 has agreed generous terms for leavers, especially those with long service, including one month’s salary for each year of service with no upper limit.
When Channel 4 finishes its redistribution of staff, only a relatively small number of the 300 are expected to move from its London HQ in Horseferry Road, Victoria. It is understood that about 40% of the 300 who will take up posts in the regions will be workers who were previously working for outsourced units, including technical and IT operations.