SRG wants to save a further 20 million francs
In addition to the cost-cutting programs already in place—totaling 100 million Swiss francs annually through 2010—the SRG Board of Directors has approved a further cost-cutting package amounting to 20 million Swiss francs per year. As a second measure, the number of positions will be capped at the 2008 budget level in the coming year.
The SRG Board of Directors has approved a further savings package of CHF 20 million per year until 2010 in addition to the savings programs already underway totalling CHF 100 million per year. Savings are to be made in upcoming building renovations and in the Director General's strategic reserve budget. SRG also wants to save money on contracts with its partners. As a second measure, the number of jobs in the coming year will be capped at the level of the 2008 budget.
Since 2000, the company has not received any additional funds from fee income after adjusting for inflation, SRG announced on Thursday according to SDA. SRG's accounts are therefore burdened with a structural deficit in the medium term.
The global financial crisis has now led to additional risks: Advertising revenues are declining in 2008 and will be lower than forecast, SRG writes further. At the same time, personnel costs have risen more sharply than originally planned. As a result of the unexpectedly high inflation at the end of October, SRG's payroll will increase by 2.8 percent in the coming year.
The Board of Directors also decided on measures to restructure the SRG pension fund (PKS). As a result of the slump on the stock market, this fund has a shortfall of CHF 170 million. The coverage ratio is currently around 90 percent. The SRG Board of Directors wants to restructure the PKS with a lower interest rate and an increase in contributions. As the employer, SRG intends to make a disproportionate contribution to the restructuring measures.
Since 2000, the company has not received any additional funds from fee income after adjusting for inflation, SRG announced on Thursday according to SDA. SRG's accounts are therefore burdened with a structural deficit in the medium term.
The global financial crisis has now led to additional risks: Advertising revenues are declining in 2008 and will be lower than forecast, SRG writes further. At the same time, personnel costs have risen more sharply than originally planned. As a result of the unexpectedly high inflation at the end of October, SRG's payroll will increase by 2.8 percent in the coming year.
The Board of Directors also decided on measures to restructure the SRG pension fund (PKS). As a result of the slump on the stock market, this fund has a shortfall of CHF 170 million. The coverage ratio is currently around 90 percent. The SRG Board of Directors wants to restructure the PKS with a lower interest rate and an increase in contributions. As the employer, SRG intends to make a disproportionate contribution to the restructuring measures.
