Tormented UK newspaper company the Telegraph Group could axe more than one hundred editorial jobs to help pay for new £150 million ($284m, €217m) printing presses.
Journalists at the Daily and Sunday Telegraph, now owned by the gothic miltimillionaire Barclay twins, were warned two weeks ago about impending redundancies [WAMN: 10-Feb-2005]. They are now bracing themselves for up to 109 job losses among their 500-plus news and foreign ranks.
The cull will save the group around £5 million ($9.4m, €7.2m) a year but will be a blow to newspapers renowned for the accuracy, scope and depth of their coverage.
The National Union of Journalists, which claims more than half the editorial staff as members, is to ballot on industrial action.
Meanwhile, group ceo Murdoch McLennan is hoping some of the redundancies will be voluntary and completed as swiftly as possible to minimise impact on staff morale.
The company was acquired last summer from Hollinger International in a bitterly-contested £665m deal.
Date sourced Data sourced from The Times Online (UK) and Media Guardian; additional content by WARC staff