The Irish Independent reports that Ireland’s public broadcaster RTÉ is losing €1m a week and will not be able to pay staff by October unless a programme of salary cuts and redundancies is implemented in the coming weeks. The newspaper says the crisis comes amid growing anger among staff at the level of pay and bonuses paid to the director-general and senior management over the past number of years.
The bankruptcy warning has come from management at the broadcaster, and the director-general Cathal Goan has cautioned that up to 300 jobs are now under threat.
on May 31st, 2009 at 12:24
Can a public broadcaster go bankrupt ?
Having read the whole article, I’ve found “We need to claw back €68m. It poses a significant cash crisis for RTE. Otherwise the station will be in serious financial difficulty.”
“Financial difficulty” is a different thing. However, the article also says : “The bankruptcy warning has come from management”.
Is the word bankruptcy being used as a hyperbole or scaremongering or because some people don’t know the meaning of the word, or is it correct ?
on May 31st, 2009 at 22:21
Public companies usually just miss going bust. The BBC nearly went bankrupt
in the early 1980\’s.
RTE is being hit by the advertising slump, as has other independent broadcasters.