Channel 10 is beginning a process of deep cuts. Sources inform "Globes" that employees in the channel's main offices were summoned yesterday for pre-layoff hearings. Estimates are that about 20 of the channel's 130 employees are involved (excluding the channel's news company). No firings are expected at the news company, however.

Sources added that at the end of a series of meetings between incoming CEO Yossi Varshavsky and the channel's various departments, a dramatic salary cut is expected that will also extend to the news channel's employees.

Sources inform "Globes" that the salary cut will be differential, and will reach 60% for high-paid employees.

Varshavsky returned to the helm of Channel 10 only a week ago in order to introduce an "alternative channel" strategy, with no reality shows or other expensive content and an emphasis on current events and a thin and inexpensive broadcasting schedule.

Published by Globes [online], Israel business news - www.globes-online.com - on July 21, 2014

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