Mumbai-headquartered newspaper Daily News and Analysis, launched in 2005 by an equal-stakes JV between Dainik Bhaskar’s publisher DB Corp Ltd and Subhash Chandra’s Essel Group, will soon cut 30-35 jobs, CEO K.U. Rao told contentSutra. “We have reduced pagination from 42 in July last year to 32 now. So we need to reduce manpower proportionately,” Rao said. DNA employs 850 people across five editions–Mumbai, Bangalore, Pune, Ahmedabad and Jaipur.
In a telephone Q&A, Rao said that DNA’s revenues grew 24% during the current fiscal. He claimed that the company has met bottomline targets and is in line to break even by 2011-12.
Following are excerpts from the Q&A:
Will salary cuts follow the job cuts? Any other cost cutting measures?
I announced in early January itself that there won’t be increments this year. But there are no salary cuts. We would rather cut flab and make the company a more lean and efficient machine than cut people’s salaries.
Why do you think so? Isn’t there a humanitarian argument that some salary is better than no salary?
Salary cuts have a big demoralizing effect. Also we think it’s inappropriate to engage somebody after negotiating something with them and then cut that. All we are doing now is to rejig manpower to meet the requirements of the current pagination.
If you are taking manpower out of the system, it means you don