Up to 300 jobs to be cut at SCA: Stock Market Trading Update

SCA has commenced a “major cost reduction program,” announced this morning in a FY26 Trading Update. Between 250 and 300 jobs are expected to go in the next 20 days.

New CEO Rohan Lund foreshadowed some cuts recently, followed up by today’s trading update, that delivered key messages about the advertising market deteriorating, “particularly within the TV segment.” Lund has commenced a cost reduction program to achieve “synergies” from the tv and radio merger.

In a note to staff, preceeding an all staff ‘Town Hall’ meeting, Lund said:

“I wanted to write to you at the same time to explain those decisions. They have not been taken lightly.

“We have so many talented people in this business and I couldn’t be more impressed by the passion and care you show every day for the business and for each other. That is the culture we will need to deliver on the strategy – a culture based on genuine care and trust. There is strong momentum in audience and revenue share and every one of our businesses is outperforming in their markets. But we need to be honest with ourselves that those markets are under immense pressure.

“To protect and supercharge what makes this place great, we have to look at our operating environment objectively. We are navigating a demanding market, with a tightening advertising sector and global macroeconomic pressures impacting all businesses. To create the space we need to deliver on the scale and trust of our audio, publishing and television platforms, we have no choice but to reset the cost base. Working closely with your leadership teams, every department was included in this process to ensure our new structure successfully supports our long-term goals and protects the momentum the business is seeing to the greatest extent possible.

“This transformation involves making incredibly tough choices regarding our team structures, and we will be saying goodbye to many smart, talented, and hard-working colleagues who have played a vital role in building both businesses. We are a better company because of their dedication, and we are committed to treating every departing team member with the respect and compassion they deserve.”

The stock exchange notification happened at about the same time as the radio ratings were released.

The update said:

Public companies often conduct redundancy programs at the end of the financial year for tax write off purposes, as seems to be the case with this round of job cuts, that are scheduled to happen in the next few weeks, before June 30th.