TVNZ warns up to 90 jobs could be cut to 'safeguard the future' of state broadcaster

As part of a cost cutting programme, TVNZ chief executive will not get a bonus this year. Photo / supplied

TVNZ staff are set to be invited to meetings today to find out whether their jobs are in threat as the state-owned broadcaster undertakes a major restructure.

On Monday morning chief executive Kevin Kenrick wrote to staff warning of the restructure, which was publicly announced by the company minutes later.

The proposal could see up to 90 jobs cut, Kenrick told staff.

Staff were told that the proposals to reduce headcount would be shared with affected staff on Tuesday, with invites to meetings to discuss the changes likely to be sent out shortly.

"This is a situation we wanted to avoid, however, we now have to make some difficult decisions to ensure financial sustainability," Kenrick wrote.

The national lockdown had hit TVNZ's revenue by 30 per cent and "we expect revenue momentum to recover gradually over the next 18 months".

Kenrick said TVNZ had taken steps to cut costs including deferring making content, reduced capital spending and "senior leadership remuneration".

A spokeswoman confirmed this has seen senior leadership forego bonuses, rather than face cuts in salary.

"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."

A spokeswoman for the company declined to say which parts of the broadcaster could be affected, or whether any parts of the business did not face cuts.

Kenrick's statement said TVNZ expected to confirm the new structure in July and the organisation was "focused on supporting our people as we move through this challenging time".

TVNZ also complained that part of the plans were leaked last week.

The announcement comes during a time of turmoil in the media, with widespread job cuts and staff asked to take pay cuts as Covid-19 savages advertising revenue.

MediaWorks confirmed in May that it was planning 130 job losses while the former owners of Stuff, Nine Entertainment, sold the company to management for $1.

NZME, owner of the NZ Herald, earlier confirmed 200 positions would be made redundant.