Thursday was a day among days for the UK newspaper industry and its on-going process of cutting staff and restructuring as newsrooms across the land were told the expect more than 160 cuts in total…
– Telegraph Media Group (50): Guardian.co.uk reports that Telegraph Media Group is to cut 50 jobs, saving up to 14 percent on the editorial budget of its daily and Sunday titles. That brings to at least 160 the number of redundancies since the paper moved from Canary Wharf to its purpose-built “spoke”-style newsroom on Buckingham Palace Road. TMG chief executive Murdoch MacLennan writes in letter to staff (via Guardian.co.uk): “While our digital revenues continue to grow, we are still heavily reliant on display and classified revenues.”
– Trinity Mirror (LSE: TNI) (78): The cuts come at its regional papers in Cheshire and north Wales including 59 in editorial (via Guardian.co.uk), in a year that has seen widespread cuts across Trinity as advertising revenue shows little sign of recovering. A quarter of jobs at Trinity’s Liverpool 175-strong newsroom, home of the Liverpool Post and Echo, are at threat. This comes less than 24 hours after Carlisle’s CN Group announced 30 newspaper job cuts in the north-west.
– Adconion (30): And now the downturn is affecting the ad platforms, too: online ad network Adconion has been forced to make more than 30 cuts across its US and European offices including 11 at the company’s London HQ, according to MediaWeek. The company, which was founded in 2004 as EuroClick, raised $80 million in VC funding back in February to pay for its expansion into the US market.