Jobs go as TVB looks to reduce costs

Hong Kong - The city's top commercial broadcaster TVB has confirmed a round of redundancies amid declining income from advertising and overseas businesses.

The broadcast group confirmed over the weekend that 212 jobs were cut as recently as last week.

The cuts are believed to be across all departments, but production and resources the most affected. 

Speaking to TVB news, TVB general manager Stephen Chan Chi-wan, said the the impact of the economic crisis is "much bigger" than previously thought, adding that there was a need to "raise efficiency".

He said he hoped it would be the last mass sacking.