Monday, November 24, 2008

Telegraph journalists warned of job cuts

The Telegraph Media Group is understood to have put staff on notice to expect pre-Christmas job cuts because of rising costs and declining revenues.

Journalists at the Times are also braced for news of cost-cutting measures, has been told, while the Financial Times editor, Lionel Barber, is understood to have briefed senior executives about proposals for 10% budget cuts in 2009 and 2010.

TMG staff are said to have been briefed about impending job cuts by heads of department late on Friday.

They are understood to have been told that the new round of cuts was necessary because of declining advertising revenues and the rising cost of newsprint on the Daily Telegraph and Sunday Telegraph, with digital income not rising swiftly enough to bridge the funding shortfall.

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