Independent News & Media is undertaking a major restructure of its business, axing up to 90 jobs. It is hoped the will save the publisher about £10m.
The bulk of the redundancies are expected to come from the editorial department of The Independent and Independent on Sunday newspapers. The changes are expected to be implemented in early next year.
The restructure is in line with cost cuts being made across the entire newspaper industry, which are in response to the weakening advertising market and softening global economy.
A major review of INM’s office and other costs is also being undertaken, with the company investigating the possibility of out-sourcing some areas of operation.
Simon Kelner, managing director, says: “As a management team, we would have been irresponsible had we not reacted to the economic conditions affecting every media business in the world by looking at our cost base.”
Ivan Fallon, INM chief executive adds the restructure will aim to help its titles “weather whatever storms the next few years will bring”.
He adds: “By taking full advantage of the latest editorial systems, sharing resources across our group, down-sizing our existing premises and looking at out-sourcing some of our activities, we can safeguard the future of the Independent titles.”