The Independent newspaper and its Sunday sister title will cut up to a quarter of their editorial staff in one of the most savage cuts to hit the UK newspaper industry in recent years, as management seeks £10m of savings the company said on Tuesday.
The UK operations of Sir Tony O’Reilly’s Independent News & Media (INM) will see a total of 90 employees made redundant by early 2009 out of a total of 424 staff in its London office. But the brunt of the cuts, about 60 jobs, will come from the 250 or so editorial staff.
Simon Kelner, managing director of INM UK, told the Financial Times: “If we are to safeguard the future of the papers, there is no other way to do it.”
By Ben Fenton, Chief Media Correspondent
Nov 18 2008
Source: The Financial Times