According to a report in The Sunday Telegraph, GMG has been secretly considering the major job cut plans designed to boost profits.
The paper said it had seen a strategy document written by Jerry Fowden, chief executive of Trader Media Group, which focuses on the transformation of the publisher.
The paper was titled "Project Solar: Transformation of TMG" and was to be presented and discussed at the GMG board meeting on Thursday July 28.
Fowden joined TMG in November last from Belgian drinks giant InBev, formerly Interbrew, where he was European president. He was previously chief operating officer of Interbrew's worldwide business when he joined the company in 2001. Prior to this, he worked in senior executive positions within Mars, Pepsi Cola International, Bass and the Rank Group.
The Sunday Telegraph said that the main thrust of Project Solar was to transform TMG from 15 local offices into four regional publishing business units. Savings would come from across the business with back office functions streamlined.
Trader Media Group owns around 70 titles, specialising in the automotive industry. It was created in 2000 following the merger of GMG Autotrader with Hurst Publishing, at that time owned by BC Partners.
In October 2003, GMG acquired the total Trader Media Group business, valued at £1.1bn.
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