Around 600 television jobs are to go after ITV reported a £2.7bn loss.

In line with other media businesses, the struggling broadcaster has been hit by a steep downturn in advertising revenue. It expects total income from advertising to fall by 17 per cent in the first quarter of this year.

Job losses will affect central services, and ITV studio operations outside London, including the Leeds studio that makes Heartbeat.

ITV Meridian has already shed jobs across its Kent and south east region, with only 10 staff now operating from the Maidstone Studios.

Regional news has also been reduced, saving £40m across the business.

This has been reflected in Kent and East Sussex now featuring in a 15-minute slot in Meridian Tonight, with the remaining 15 minutes covering the entire Meridian region. The programme recently changed its presenting team with veteran Fred Dinenage joining Sangeeta Bhabra in the Whiteley, Hampshire, studio. ITV has not ruled out further cuts in regional news.

In the 12 months to the end of December, ITV group revenue fell three per cent from £2.08bn to £2.03bn. The huge loss followed writedowns in the value of its assets, including goodwill.

Audience share fell from 17.9 per cent in 2007 to 17.2 per cent. ITV’s digital channels accounted for 4.8 per cent of total viewing share.

Michael Grade, chairman, said: "Current conditions in the advertising market are the most challenging I have experienced in over 30 years in UK broadcasting. This is reflected both in our financial results for 2008 and the tough actions we are announcing today."

ITV plans to make cost savings of £245m by 2011, with £155m saved this year, Savings will come from programme making and job losses.

The company has suspended its dividend and announced it is selling Friends Reunited, its internet business.

Investment in programme will be cut by £65m and will be reducd by a further £70m in 2011. ITV said the programme mix would be shifted towards entertainment and what it called "the cornerstone of the ITV schedule."