Over 200 BT Sport staff are at risk of redundancy following their switch to Warner Bros. Discovery, a statement from union Prospect confirms.
The employees moved to the new company as part of the joint venture formed by the two businesses last year. The group has been told that their jobs have been dissolved, and that they will have to apply for another job at Warner Bros. Discovery if they wish to stay - according to a report from SVG. Those who do not find a new role will be given redundancy, and the majority of those at risk are based at BT Sport’s base in Stratford.
Warner Bros. Discovery has stated that new roles have been created by the joint venture, and that BT Sport employees will be given priority for these. A spokesperson said: A consultation with representatives of BT Sport employees is underway. This results from the expiry of BT Sport’s lease in Stratford and move to Warner Bros. Discovery’s (WBD) existing facilities, as well as a proposed reorganization of the business.
Finding operating efficiencies was envisioned by the BT and Warner Bros. Discovery joint venture and is critical to maintaining our competitiveness in a fast evolving and competitive environment. BT Sport employees have priority for the new roles that have been identified within Warner Bros. Discovery’s sports organisation and broader business.
Given the consultation is ongoing, it would not be appropriate to comment further at this time.”
Meanwhile, Prospect has said that it is “deeply concerned” about the news. National secretary John Ferret said: Prospect is deeply concerned over these redundancy proposals, and that they come mere months after staff were transferred to Warner Bros Discovery with promises of a bright future.
Hardworking staff who were transferred only last November in roles they were told were secure are now facing an uncertain future.
This is an incredibly unsettling time for our members at BT Sport, and we will be doing everything we can to support them. Members who are due to transfer from BT to Warner Bros. Discovery in future phases of the joint venture will also rightly be concerned about their future careers with the business.
We are fully engaging with Warner Bros. Discovery to understand what has led to this about face and why not one single job currently in BT Sport is due to remain under the organization’s stated restructure.
Key Facts
• BT Sport and Eurosport UK to be brought together to form a premium sports joint venture for customers in the UK & Ireland which will be owned 50:50 by BT plc and Warner Bros. Discovery.
• Warner Bros. Discovery and BT plc will each directly contribute, sub-license or deliver the benefit of their respective sports rights and distribution agreements for the UK & Ireland to the JV.
• The Transaction will deliver operational efficiencies through the transfer of the operating businesses of BT Sport to Warner Bros. Discovery.
• BT plc will receive £93m from Warner Bros. Discovery and up to approximately £540m by way of an earn-out from the JV, subject to certain conditions being met.
• BT plc will retain a 50% interest in the JV, and Warner Bros. Discovery will be granted a Call Option over BT plc’s interest in the JV, exercisable at specified points in the first four years of the JV.
You must be logged in to post a comment.