Daily Mail and General Trust to cut 1,000 jobs

Daily Mail and General Trust to cut 1,000 jobs
AP
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First Published: Mon, Mar 23 2009. 04 47 PM IST
Updated: Mon, Mar 23 2009. 04 47 PM IST
London: The Daily Mail and General Trust said Monday it expects to shed a thousand jobs in its Northcliffe Media unit, which produces more than 110 local publications.
The trust said advertising revenues at Northcliffe Media were expected to be down 37% in the current quarter, worse than the group’s overall drop of 24%.
The number of job cuts planned in Northcliffe are double the level the group announced in November, and represent 22% of its current staff. Further reductions are being made in other operations, the trust said, but gave no details.
In the latest five months, DMGT said revenue had fallen by 12%.
Northcliffe Media’s publications include the Bath Chronicle, the Leicester Mercury, the Bristol Evening Post and the Derby Telegraph.
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First Published: Mon, Mar 23 2009. 04 47 PM IST