Friday, November 21, 2008

Daily Mail owner cuts 400 jobs

Owner of the British tabloid Daily Mail has cut 400 jobs at its two newspaper divisions over the past two months as part of a 100-million pound cost cutting exercise, a media report said here.

Daily Mail & General Trust (DMGT), which today reported a nine per cent fall in its profit before tax for the year ended September 28, has already made most of the planned job cuts and is currently mulling over other cost-saving measures, the Telegraph reported on its website.

The company has cut 400 jobs at its Associated and Northcliffe newspaper divisions, it added.

The report said the group had seen a 10 per cent slump in advertising revenues across Associated, the publisher of the Daily Mail, Metro, Evening Standard and London Lite, in October, although it said but it is difficult to predict trading performance for the rest of the first quarter.

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