CHANNEL 4 plans to move out of its London HQ and make hundreds of staff redundant.

The broadcaster announced today that almost 250 roles will be cut as part of a restructure triggered by weak advertising revenues.

Under the plans, its Horseferry Road building would also be closed and a new office space found in the centre of the city.

The job cuts are the broadcaster’s biggest in almost 15 years and represent an 18 per cent reduction.

A statement from broadcasting union Bectu said: “Members know only too well how tough the last year has been for film and TV workers. 

“Throughout the challenges facing the sector, broadcasters must be transparent with staff and freelancers, and ensure that changes are communicated as soon as possible.”

 Sian Jones, NUJ national broadcasting organiser, said: "We have so far been reassured that Channel 4 News, which is produced by ITN, will not be affected by these cuts.

"But clearly it's not good news that Channel 4 which strives to be one of our more innovative public service broadcasters, with a specific remit to portray underrepresented groups, is to be hit this way."

Channel 4’s Fast Forward strategy also includes axing the small linear channels such as music video station The Box and others.

Channel 4 chief executive Alex Mahon said: “I am very sad that some of our excellent colleagues will lose their jobs because of the changes ahead.

“But the reality of the rapid downshift in the economy and advertising market demand that we must change structurally.”