More journalistic jobs could go at Trinity Mirror as it contemplates cutting costs by another £10m
Trinity Mirror, which is shedding 71 editorial jobs at the Daily Record and Sunday Mail, could be contemplating more jobs cuts to its journalistic staff.
According to a report in the Daily Telegraph, Trinity Mirror, which also owns the Daily Mirror, Sunday Mirror, the People and a clutch of regional titles, is considering a major increase in cost cuts which could lead to significant job losses - despite a circulation boost from the News of the World's demise.
The national and regional newspaper group, which should report its half-year results on August 12, is expected to increase cost savings to about £25m this year, claims the Daily Telegraph.
“The move is likely to trigger job losses, a large number of which would be journalists, although sources said that synergies such as outsourcing were also being explored and job cuts were not the only solution”, claims the broadsheet.
“Earlier this year, the company, which has been through a series of cuts, increased its cost savings target for the year to £15m. That could now be increased by around another £10m.
The interim results for the newspaper group are expected to announce that it has benefitted from the closure of the News of the World, bringing in ‘millions’ as a result.
“However, some wider factors, such as volatile advertising conditions and the cost of newsprint, are still putting immense pressure on the group and it recognises significantly increased cuts will be necessary,” the piece added.