GMG Regional Media to shed 95 jobs following 85% profit drop

GMG Regional Media: to axe 95 jobs and two weekly titles
GMG Regional Media: to axe 95 jobs and two weekly titles

LONDON - Guardian Media Group's Surrey & Berkshire Media is to close two weekly papers, switch its daily paper to twice weekly and axe up to 95 jobs as it tries to cut costs to deal with an 85% drop in profits across its regional arm in the year to March.

GMG Regional Media is currently involved in discussions with staff affected by the job cuts and it is not clear how many sales jobs will go.

As part of the plans, S&B Media will consolidate its staff into the offices in Reading and Guildford and close offices in Esher and Wokingham, as well as its two offices in Aldershot.

S&B Media's main title, the Reading Evening Post, will switch from being a daily publication to an undisclosed two days a week.

The Reading Evening Post's circulation was up 5.9% year on year to average 12,879 copies over the last six months of 2008. However, despite circulation growth, GMG Regional Media needs to cut costs in order to avoid becoming a loss-making company in the face of declining ad revenue.

Yesterday (10 March,) it emerged that the other division of GMG Regional Media, MEN Media, is close the offices of its weekly newspapers and relocate the production of its weekly titles to central Manchester as part of the same plans.

In addition MEN Media is to cut 150 jobs, although it is not known how many of cuts will be from its 150-strong sales team.

GMG Regional Media said that it will distribute fewer free copies of the MEN and its weekly papers and the Manchester Evening News would have its pagination reduced.

Start Your Free 30-Day Free Trial

Get the very latest news and insight from Campaign with unrestricted access to , plus get exclusive discounts to Campaign events.

Become a subscriber


Don’t miss your daily fix of breaking news, latest work, advice and commentary.

register free