Teletext is to axe 55 editorial jobs from its sport, racing and
finance departments, with some editorial in these areas to be provided
by the Press Association.
Journalists have entered into a 30- day
consultation period. There is a possibility that some jobs could be
found elsewhere within the Daily Mail General Trust, the company’s
owners.
Teletext has been faced with increased online competition
but its digital launch in June is reported as “encouraging” and its
online revenues are up 80 per cent year-on-year. Teletext said the job
cuts will allow it to invest in its digital services in the run-up to
the 2008 digital switchover, expected to be completed in 2012.
Managing director Mike Stewart said: “It’s about investing in the business and increasing our flexibility.
Related
“We
are talking about dedicating millions of pounds worth of investment
into our digital services, new classified areas and the development of
our holiday website. Digital has the potential to be a much richer
viewer experience.
“We are very sad about the job losses here but
we are trying to equip the businessto compete effectively. We are going
through an extensive consultation process and will treat it with as
much sensitivity and care as we conceivably can.”
He denied
speculation that the move was in response to a downturn in profits in
the DMGT broadcast division. In its interim report operating profits
fell from £7million to £1.3million on turnover down 23 per cent to
£46million.
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Teletext reported that revenues had fallen by 17 per cent due to a weak holiday market and the shift to late holiday booking.
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