The British broadcaster BBC has announced plans to cut between 1800 and 2000 jobs over the next two years, according to the Associated Press.

The cuts will affect approximately 10% of the workforce and will be the largest in more than a decade. The goal is to save 500 million pounds sterling (approximately 677 million USD) from the corporation's annual budget.

According to Interim Director General Rhodri Talfan Davies, the cuts are driven by inflation, pressure on licensing and commercial revenues, and the unstable global economy.

The bulk of the cuts are planned for the financial year beginning April 1, 2027. Earlier this year, the BBC announced "significant financial pressures" and its intention to cut around a tenth of its budget by 2029.

The layoffs also come amid a transformation of the media market driven by artificial intelligence and changing consumer habits.

The leadership change coincides with the announcement of a restructuring: former Google executive Matt Brittin will take over as CEO next month.