RBI Cuts 50 Jobs After ‘Unprecedented Ad Deterioration’

imageNew Scientist and Farmers Weekly publisher Reed Business Information, which was already cutting US jobs, is now also axing 50 UK posts through voluntary redundancy. The publisher already cut 35 jobs here in January, then a plan emerged to cut seven percent of the US workforce.

Now UK CEO Mark Kelsey has sent staff a memo (via Journalism.co.uk), explaining: “Over the last two months in particular, trading has deteriorated at an unprecedented rate across almost all of our key advertising markets … it is clear that we also now need to reduce staff numbers further.”

RBI appears to have been in slim-down mode since owner Reed Elsevier (NYSE: RUK) last year abandoned its plan to sell the publisher. The parent remains interested in off-loading the publisher at some point.