OLD Media News

The Herald invites applications for voluntary redundancy

Applications for voluntary redundancy have “opened” at Glasgow-based daily, The Herald and its sister publication, The Herald Sun.

The owner, Newsquest, states that it will have “little alternative” but to look at compulsory redundancies unless enough people come forward by Monday. In a message to staff, editor in chief, Donald Martin, said he was in the “regrettable position” of having to consider implementing cost-saving measures at the titles.

Newsquest did not confirm the number of roles it is looking to make redundant, but it is understood news reporting staff would be at risk should compulsory redundancies be implemented.

Donald said: “As you are no doubt aware the company faces challenging market conditions with both newspaper sales and print advertising continuing to decline. Although we are making significant progress in our digital transformation, the revenues gained are not yet enough to offset print declines.

“As a result, we need to find further cost and efficiency savings in our budget for 2020 to minimize the impact on profitability. The company is, therefore, in the regrettable position of having to consider implementing cost-saving measures across the editorial functions of The Herald and Herald on Sunday.”

He went on: “Although we have made major savings through recent non-replacement of staff, we remain significantly short of the level of savings required. Having already reduced most freelance and agency contracts in the previous budget cuts, there is a very real prospect that there is little alternative but to look at compulsory redundancies across The Herald and Herald on Sunday unless we receive and accept a number of VR applications or requests to reduce hours/days.”

A spokesman for Newsquest added, “The environment for news publishers remains very challenging, given in particular the very substantial loss of revenue to other digital advertising platforms.

“At Newsquest Scotland, we are focused on ensuring that news brands have a sustainable future. We continue to restructure how we operate to ensure we work as efficiently as possible across the business. Whilst these potential redundancies are regrettable, it means we can continue to invest in quality journalism for many years to come.”

Mariam Ahmed

Recent Posts

Dynamo hires former Business Insider executive editor Harrington

Former Business Insider executive editor Rebecca Harrington has been hired by Dynamo to be its…

11 hours ago

Bloomberg TV hires Kerubo as desk producer

Bloomberg Television has hired Brenda Kerubo as a desk producer in London. She will be covering Europe's…

11 hours ago

Jittery CNBC staff reassured by new boss

In a meeting at CNBC headquarters Thursday afternoon, incoming boss Mark Lazarus presented a bullish…

11 hours ago

Making business news accessible to a wider audience

Ritika Gupta, the BBC's North American business correspondent, was interviewed by Global Woman magazine about…

12 hours ago

Rest of World hires Lo as China reporter

Rest of World has hired Kinling Lo as a China reporter. Lo was previously a…

12 hours ago

Bloomberg rises to No. 7 biz news website

Bloomberg News saw strong unique visitor growth to its website in October, passing Fox Business…

12 hours ago