Bloomberg Television to possibly let staff go in London; business channel remains committed to report European stories and trends.

Bloomberg Television (DStv 411) could be cutting staff at the 24-hour business channel's London office before the end of the year as Bloomberg Television starts a review of its operation efficiency in the United Kingdom.

Bloomberg Media Group COO Paul Bascobert told Bloomberg Television told London staff about it yesterday.

Bloomberg Television says the business channel is reviewing its back-office production functions to improve operations. "We remain dedicated to reporting European stories, companies and trends as well as the market developments during the European trading day with the same comprehensive focus."

"We are firmly committed to the growth of our London and global business and project overall growth in London-based over the next year and beyond."