Trinity Mirror has called for voluntary redundancies as it merges some subbing operations across the Daily Mirror, Sunday Mirror and the People in a bit to save costs following a downbeat trading update earlier this week.
A source told Press Gazette that the company is hoping for 11 voluntary redundancies and is ‘seeing who will bite”, as it proposes to create a central production unit that will see subbing staff operate across all three titles for “back of the book” material.
In statement Trinity Mirror said: ‘The new central production unit will require fewer staff than the existing head count. We are now in a period of consultation with our employees, however it is hoped that many of the proposed redundancies can be offset by voluntary redundancy and redeployment across the titles.”
The company’s Scottish titles, the Daily Record and Sunday Mail, will not be affected by the changes.
Trinity Mirror posted a 12 per cent year-on-year decline in advertising revenue in the past three months and shares in newspaper group plunged 28 per cent after it announced profits would be 10 per cent lower than expected, with the group following up the announcement with a recruitment freeze across the whole company.
The group said it is constantly reviewing how to improve efficiency and how to ensure titles are titles are ‘as competitive as possible’in the challenging media environment and difficult economic climate.
It was also revealed this week that Mirror Group Newspapers has frozen its graduate trainee scheme, meaning the loss of two places, and is yet to confirm if the January intake will go ahead.
In its profit warning statement on Monday, Trinity Mirror said: “The challenging advertising environment management continues to manage the cost base tightly and will continue to seek opportunities for further efficiencies in operations.”