Daily Mail Group cuts more jobs amid caution
The Daily Mail and General Trust said it reduced the headcount in its national and regional newspaper division by a further 188 jobs in the first two months of 2011, taking total job losses to 520, or 7 per cent of the workforce, in the five months to the end of February.
Its Northcliffe Media arm, which includes some 100 regional newspaper titles, took the brunt of the cuts with 317 job losses as revenues from circulation and advertising dropped 3 per cent and 8 per cent respectively in the period.
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Hide AdGroup underlying revenues were up 5 per cent driven by a strong performance at its business to business arm, although the company said it remained cautious over the outlook for its newspaper business.