DMGT cuts 1,000 jobs

LONDON - The Daily Mail and General Trust (DMGT) is cutting 1,000 jobs as it struggles to cut costs during the advertising downturn.

DMGT cuts 1,000 jobs

The job cuts at its regional arm Northcliffe Media will be double what was predicted last year.

Northcliffe Media publishes 113 papers in the Midlands and South of England. It sells 4.1 million copies a week. Some employees have already left the company and others are under consultation.

The company said in its trading update that further costs were being cut in all departments. The effected departments also include national papers the Daily Mail and the Metro.

The group's half year results to 29 March will be announced in May. DMGT said the job cuts would save the company around £20m.

It expects advertising revenue at its newspapers during the three months to March to drop by 24%.

Local newspaper group Archant, which owns the Eastern Daily Press and Evening News, said this month it is planning to cut 34 jobs in Norfolk.

The Financial Times plans to cut editing staff and reduce from three editions per day to two.

The DMGT sold the London Evening Standard newspaper for £1 in January to Russian billionaire Alexander Lebedev.

 

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