Fairfax Media to cut 550 jobs
This article running on the homepage of the Sydney Morning Herald outlines the cost management measures that Fairfax Media is pursuing to continually manage their structure and related costs as the media industry heads into what has been described as uncertain times. These cuts appear to primarily focus on the print media businesses, from what is stated in the article.
Key points quoted from the article:
<snip>Fairfax Media will axe 550 staff in Australia and New Zealand, or about 5% of the company’s total, as part of a plan to bolster profitability.</snip>
<snip>Fairfax’s announcement comes as the global media industry attempts to manage a shift in advertising revenue and readership from traditional media, including newspapers, to online and other emerging platforms.</snip>
<snip>"There will be criticism from some, inside and outside the company, that these changes, particularly in editorial, will compromise quality and critical mass in the metro mastheads and their mission. We reject that," the emailed statement said. </snip>


