The group said the restructure will result in redundancies across all areas of the operation, although the majority will come from the editorial department.
In a statement, it said: ‘The Independent and Independent on Sunday have been hit by a downturn in advertising revenue and this has prompted a major review of the papers' cost base.' The restructure will involve greater integration between the two papers, with both streamlining their production processes. The company is also investigating the possibility of outsourcing some areas of operation.
Ivan Fallon, chief executive of INM (UK), said: ‘This restructuring will produce a significantly lower cost base, which will allow our titles to weather whatever storms the next few years will bring. By taking full advantage of the latest editorial systems, sharing resources across our group, downsizing our existing premises and looking at outsourcing some of our activities, we can safeguard the future of the Independent titles.'
The company is planning to implement the changes 'by early 2009'.
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