Newsnight is cut back to make £500m savings: BBC Two show will be shortened by 10 minutes, lose its dedicated reporters and drop its investigative films as part of cost-cutting plan

Newsnight will become a 30-minute programme as part of the BBC's wider plans to make £500 million of savings, the corporation said. 

The changes mean that more than half of Newsnight's 60 jobs will close, with the corporation saying in a release that the programme will become a '30 minute interview, debate and discussion show'. 

The programme will remain on air five days a week despite the financial pressures. 

Deborah Turness, BBC News and Current Affairs chief executive, said: 'Like many businesses, we are in a tough financial climate and as our audiences shift rapidly from TV to online news consumption, we need to make choices about where we allocate our resources.

'While TV and radio remain crucial to BBC News, we must invest in our digital platforms to ensure they are also the home of our very best journalism, and today's package of measures will accelerate this transformation.'

Referring to the decision to cut BBC 2's Newsnight to 30 minutes, she added: 'Audiences have told us how much they value Newsnight as an iconic BBC debate and discussion programme, and we've listened to what they've said - we've made the decision to keep the programme on air five days a week, despite the financial challenges we face.

'We will offer more to audiences by investing to ensure the best investigative journalism and reporting is produced - and consumed - across the whole of BBC News.'

As part of the changes announced by the BBC, an extended hour-long edition of BBC News At One will relocate to Salford, and BBC Breakfast, also broadcast from Salford, will be extended for an extra 15 minutes daily, the corporation said.

The corporation expects the raft of changes to save £7.5 million, as part of the BBC's wider plans to make £500 million of savings.

More to follow.