Daily Mail owner to cut more than 400 jobs as it battles 'challenging market
This article from the Guardian says that the Daily Mail (A competitor) has to axe over 400 jobs from its human resources. This is because it has been ordered to pay fees going upwards of around £million. It says that most of it's editorial jobs will be secure as they don't want to face a slip in quality. Although this would be a large cost for DGM (Daily Mail's parent company) there ad revenues online has risen 18% since August giving them some support.
-cuts at DMG Media, which employs 2,700 staff,
- About 40% of the total job cuts will come from the company’s DMG Information business in the US
-Print advertising across the Mail and Metro titles fell by 19% in September, compared with 12% in the 11 months to the end of August
When researching this story further i noticed that the Daily Mail itself hasn't posted about it axing jobs but its competitors have, this may be because they're not proud of the fact they have to loose so many people in order to make a profit. Also the jobs being axed come from more people in marketing and ad sales and not from there editors. In a time like this where jobs in the media are getting much more competitive because of the shrinking market it won't be unusual to see more dramatic job cuts like this.
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