U.K.'s Guardian News & Media to scale down supplemental publications, reduce number of pages of Guardian in efforts to save £25M over next five years, also plans to reduce workforce by around 100 jobs
December 21, 2011
– Guardian News & Media Ltd. plans to scale down its supplemental publications and reduce the number of pages of the Guardian in efforts to save £25 million (US$39.21M) within the next five years, the Telegraph reported on Dec. 16.
The Guardian will replace its Film & Music supplement with a segment in its flagship supplement G2 beginning in January. It will also axe its daily Sports supplement, except for the Monday and Saturday editions, and fold the segment into its main newspaper.
The company also intends to eliminate about 100 total positions and is expected to begin compulsory redundancies within the next year, the Telegraph reported.
For the year ended April 30, 2011, Guardian News & Media reported a pre-tax loss of £43.8 million.
In efforts to curb losses, the company is also looking into shutting its £80 million printing plant in England and has begun talks with the Trinity Mirror to move its Berliner printing presses to Trinity’s Watford, England, printing plant.
Over the last two years, the Guardian has cut over 300 positions, eliminated its media, education and society supplements, and reduced the page count of its main publication, the Telegraph reported.
The primary source of this article is The Telegraph, London, England, on Dec. 16, 2011.