The British Broadcasting Corporation has announced plans to cut 2,000 jobs over the next five years as part of the government’s efforts to reduce a record deficit.

BBC Director General Mark Thompson told the staff Thursday the decision followed a nine-month consultation with staff on ways to save money.

Thompson said the 20 percent budget reduction would force significant job losses at every level of the organization and would be the most far-reaching transformation in the BBC’s history.

Thompson said the BBC could not maintain its quality reputation if forced to make further cuts. He said this will be the last time the BBC will be able to order this level of savings without a substantial loss of services or quality or both.