The Future of Print

Daily Mail group to cut 1,000 jobs

Posted in Doom by futureofprint on March 23, 2009

The Daily Mail and General Trust DMGT media group said Monday it would cut 1,000 jobs this year, over twice as many as previously forecast.

The job reductions, the latest blow to the ailing media sector, will hit its regional arm, although further cuts are planned “across all cost categories” at Associated Newspapers, owner of the Daily Mail and Mail on Sunday.

While the mass-market Daily Mail is its biggest brand, the group owns some 113 daily, weekly and free regional newspapers including The Leicester Mercury, the Bristol Evening Post and the Derby Telegraph.

The 1,000 job cuts, over twice as many as forecast in November, come as advertising revenues continue to collapse as advertisements increasingly go online.

In the first quarter of 2009, Associated Newspapers forecast a 24-percent decline in ad income on 2008.

Via Breibart

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