LONDON, U.K.: The BBC will eliminate 550 jobs, including positions in its news and content divisions, as Britain's public broadcaster accelerates a major cost-cutting program aimed at saving £500 million over the next three years.

The workforce reductions form part of a broader restructuring effort under newly appointed Director-General Matt Brittin as the broadcaster seeks to adapt to changing viewing habits and mounting competition from streaming services and digital platforms.

The BBC said the changes announced on June 17 would generate approximately £160 million in savings toward its overall target.

The broadcaster is facing growing pressure to maintain its relevance as audiences, particularly younger viewers, increasingly turn to online and on-demand services for news and entertainment.

In March, the corporation appointed former Google executive Brittin as director-general. At the time, BBC Chair Samir Shah said the organization required radical reform, while Brittin warned that the broadcaster faced a moment of "real risk".

As part of the latest restructuring, the BBC will make cuts within its news operation, including the closure of some long-running programs, the merging of production teams across shows, and a review of senior on-air roles.

The corporation had approximately 21,500 employees as of March last year.

The BBC said additional cost-saving measures would be announced in the coming months, including plans to cut around 700 jobs in its corporate divisions.

Taken together, the restructuring is expected to result in a total of 1,800 to 2,000 job losses over the next three years.

The cuts come as the broadcaster prepares for a critical period in its future funding arrangements. Brittin will be tasked with negotiating a new funding settlement ahead of the expiry of the BBC's Royal Charter at the end of 2027.

Several options are expected to be considered as part of that process, including retaining the television license fee paid by UK households, introducing subscription-based services, or seeking funding through advertising.