The Guardian braces for job cuts as expenses continue to rise
The Guardian is primed to cut its growing expenses after it reportedly spent £70m in 2015.
The FT cites a source familiar with the newspaper’s performance, claiming it took a hit from declining print ad sales, the rise of ad blockers online and difficulty in monetising mobile viewers.
Operating losses could be as high as £50m in the year ending March – a figure the top brass at the newspaper is intent on cutting over the next three years.
Among them is Katharine Viner who joined as editor in chief in 2015, replacing Alan Rusbridger to become the first woman to run the paper in its 194 year history.
A leaner Guardian is one way to make up the short-fall in revenue although significant job losses would be required.
To combat its mobile monetisation problem, in which readers are accessing its news off-platform through products like Facebook Instant Articles and Google Accelerated Mobile Pages.
The Guardian’s group project manager for mobile and devices Tom Grinsted has admitted that the publisher will have to focus on producing apps.