The organisation has asked some of its public service staff if they are willing to take voluntary redundancy. The BBC currently has 19,231 staff working in various broadcast roles. The broadcaster has already made it clear they would have to air repeats to fill gaps in their scheduling due to the coronavirus pandemic.
A BBC spokesman said: “The impact of the coronavirus pandemic means the BBC needs to make £125million of savings this financial year.
“In addition to the considerable efficiency savings, the corporation had previously committed to and planned for.
“The BBC’s challenge is to keep delivering programmes and services for the whole country while continuing to adapt and change.
“The BBC is, therefore, inviting public service staff to express an interest in voluntary redundancy.”
Outgoing director-general of the BBC, Lord Hall, said: “Our commercial operations are also severely affected.”
Fran Unsworth, the BBC’s director of news, has said the pandemic means there would be no dividend payment from the organisation’s commercial side.
Last year, that cash dividend came to £65 million.
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Currently, all people over the age of 75 qualify for a free TV licence.
After August 1, only people over the age of 75 who get pension credit will be entitled to a free TV licence.
Anyone who is on a lower state pension could be eligible for pension credit.
Earlier this year, the BBC also suspended plans to cut 450 jobs due to the need to cover the pandemic.
However, these cuts will still take place.
This comes as celebrity broadcasters, including Stephen Fry, have signed a letter asking the BBC not to cut its English regional current affairs programmes.
The BBC has cancelled the autumn series of Inside Out and has merged its weekly regional political programmes.
Tim Davie is set to replace Lord Hall as the next director-general in September.