The BBC will cut up to 1,000 jobs to cut costs and execute a company-wide “digital-first” rebrand, its top editor announced in a staff meeting on Thursday. “In the digital age, continuing what we’re doing today isn’t going to be enough,” its director-general Tim Davie said. “When I took this job I talked about the immense pride I feel in leading this wonderful institution. I feel that more than ever but I know that we will need to reform to stay relevant.” As part of the cuts, which Davie said would result in £500 million worth of savings, the org will nix its BBC Four and CBBC channels s well as its BBC Radio 4 Extra station. It will instead launch a 24-hour news channel simply titled “BBC News,” aimed at U.K. and international audiences both on-air and online. The BBC will also seek to boost usage of its iPlayer service through on-demand shows. “I believe in a public service BBC for all, properly funded, relevant for everyone, universally available, and growing in the on-demand age,” Davie said. “This plan sets us on that journey.”