The company will:

• Increase investment in development by 75 per cent and will recruit more creative talent over the next three years.
• Maintain a strong creative culture whilst ensuring a focus on costs and efficiency. This includes a review of all operations and suppliers and moving all Newman Street staff into Talkback Thames’ Stephen Street offices in 2011.
• Increase investment in its digital business, Talkback Thames Digital.
• Work closer with its parent company FremantleMedia to maximise the commercial value of its content.

The company is entering into a consultation process with staff likely to be affected.

Sara Geater, Interim CEO, commented: “We are experiencing very tough market conditions.  In order to realign the business in a very competitive market we are taking the necessary steps to ensure that we are in the best position to grow the business. I’m confident that our new strategy will ensure we have a stronger, leaner and more commercial platform for growth.  It will enhance our creativity, allow for fresh thinking and will ensure we maintain the high editorial standards that Talkback Thames is known for. We are entering into a period of consultation with those affected which I know will be difficult for everyone involved. As a result of the proposed changes, unfortunately, we anticipate there may be job losses of around 20 per cent.”