The BBC has announced plans to cut up to 2,000 jobs in a bid to save 10% of its annual budget, which amounts to £500 million ($677 million), over the next two years. This decision, communicated by interim Director-General Rhodri Talfan Davies, marks the broadcaster's largest layoffs in over a decade. The cuts are driven by ongoing financial pressures, including rising inflation and challenges to its traditional license fee income, which has recently increased to £180 ($244). The BBC aims to implement most of these job reductions in the next fiscal year beginning April 1, 2027. The announcement comes as the BBC prepares for a leadership transition, with former Google executive Matt Brittin set to take over as director-general next month. The BBC, founded in 1922, has evolved into a major media institution, operating multiple television channels and radio stations, but faces increasing criticism regarding its funding model amidst a shift towards digital streaming.