Seven workers are facing job cuts across the company as it tries to cut $55 million in costs by June. The network has already started slashing jobs, including at some of its best-rating in-house TV productions.

Crikey understands that some of the job cuts were at long-running in-house TV productions Better Homes and Gardens and Border Security. A Seven spokesman would not confirm the number of jobs to go, but said there was a combination of redundancies and the usual ending of run of show contracts:

The cuts are a major part of the $75 million in net costs the network wants cut by 2019. At Seven West Media’s annual meeting on November 1, CEO Tim Worner committed the company to a total of $105 million in cuts by 2019, to be offset in 2018-19 by another $30 million in new costs associated with the over-priced AFL contract.

“As announced at our annual results and at our annual general meeting, we are undertaking a series of initiatives to streamline our business and reduce costs, as is the case across the media sector (among others). Seven’s long standing productions including Home and Away, Border Security and Better Homes and Gardens continue in production. They, as with many of our programs, have contracted production people who work ‘run of show’. They are on run of show contracts with many of our programs finishing up production at this time of the year,” he said.

The Australian reported today that Platform Seven, an online business launched in October, was also shut last week with an unknown number of redundancies.

Seven’s share price hit an all time low of 59 cents the week before last and last week traded around 60 to 62 cents. Seven is understood to be planning another round of write downs in the value of sports rights deals this financial year (after the Commonwealth Games have ended early next year, and the Winter Olympics). Both of those could be in the list of contracts written down.

At the AGM Worner said group operating costs declined by $20 million in the 2017 financial year, excluding the Olympics, and the company would focus on “driving greater efficiencies out of our assets”.