Trinity Mirror plans to shed 550 jobs

HR
is one of the departments singled out for major job cuts at newspaper
publishers Trinity Mirror.

The
company, which publishes titles such as the Daily Mirror and has a portfolio of
about 260 regional newspapers, is planning to cut around 550 jobs in a bid to
achieve annual cost savings of £25m by 2005.

Trinity
said costs would be reduced "significantly" in most business areas,
including through the centralisation of HR, finance and IT functions.

The
company aims to secure its future through a three-phase programme of
"stabilise, revitalise and grow", a new performance-based strategy.

Chief
executive Sly Bailey said: "The actions I am putting in place will
transform our business, so that its value as a whole is undeniably more than
the sum of its parts."

By Michael Millar

Comments are closed.