Sky is preparing to slash hundreds of jobs in the UK as the broadcaster continues to grapple with the shift away from satellite television towards streaming.
The company has launched a consultation affecting 900 roles, with around 600 expected to go. The move marks the third major round of cuts at the business in less than two years, as it adjusts to declining demand for satellite-TV packages and ramps up its digital offerings.
Sky, owned by U.S. media giant Comcast, employs about 23,000 people across the UK. It has invested heavily in new products such as its streaming-focused set-top box and smart TV Sky Glass in a bid to compete with Netflix and Disney+. But the pressure is mounting, with HBO’s Max service due to enter the UK market next year, ending Sky’s long-standing exclusivity on hit shows such as The White Lotus.
In a statement, the company said it would scale back on developing new products to focus instead on improving existing ones. “As we look ahead, we are shifting our approach to bring customers the next generation of experience by investing in digital-first service, unbeatable content and even better performance from our products, powered by the best of global innovation,” a spokesperson said.
The cuts form part of a broader turnaround strategy for Comcast, which paid £31 billion to acquire Sky in 2018 but has since taken an $8.6 billion (£6.3 billion) write-down on the investment. Sky reported UK revenues of £11.2 billion and profits of £256 million in 2024, but its satellite business has been in steady decline.
In the past two years, Sky has axed around 1,000 jobs linked to dish installation and 2,000 call centre roles, with three regional centres due to close. The group’s recovery has also been complicated by an embarrassing miscalculation in its advertising division that left partners underpaid, a mistake that could cost hundreds of millions of pounds.
With competition intensifying and its core business shrinking, Sky now faces the challenge of cutting costs while convincing subscribers to stay loyal in an increasingly crowded streaming market.
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Sky to Cut Hundreds of Jobs as Streaming Shift Forces Restructure