BBC News faces cuts of £80 million (€101m) over the next four years as the corporation looks to save £550 million a year by 2021-22.

James Harding, the BBC’s head of news, warned staff that his “working assumption” about how much the new channel would be hit by the BBC’s cost-cutting proposals was about £80 million in a presentation in London. The cuts are a result of Harding’s three-month Future of News project, which was launched in January.

BBC News currently employs about 7,400 of  the corporation’s 18,000 workforce, has already announced £5 million in savings as part of the corporation’s overall target of £150 million in annual savings by 2017.  Final proposals are set be announced at the end of March.

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