The BBC has announced plans to cut 500 jobs as part of an effort to save £200m and drive the "transformation" of the organization.

Chief Operating Officer Leigh Tavaziva stated that these changes aim to enhance the BBC's premium video offerings and digital capabilities.

Previously, the BBC was already working to save £500m as part of a plan introduced two years ago.

Ms. Tavaziva explained that "significant activity" is underway to make the corporation "more flexible."

She added, "In March, we announced the need for an additional £200m in savings and reinvestment plans to drive the continued transformation of the BBC. This will support greater investment in premium video content and further develop our digital capabilities."

To achieve these goals, the BBC will close and transfer roles in some areas while creating new positions in growth sectors over the next two years.

This restructuring will result in a net reduction of 500 public service roles by March 26, with further growth expected in the commercial sector. A voluntary redundancy scheme will be launched to support these changes.

"Our priority remains to protect and champion the BBC's role as the UK's public service broadcaster, serving all our audiences both locally and globally," Ms. Tavaziva emphasized.

Last March, the BBC announced it would cut 1,000 hours of self-generated television programming, with half of these cuts affecting sports content. In the same year, the BBC also decided to disband its in-house chamber choir, the BBC Singers, and reduce salaried positions in the BBC English Orchestras by about 20 percent.

In 2016, the BBC announced the need to cut £800 million in costs.

The BBC yesterday released their annual top earners list, with Gary Lineker remaining at the top.