Daily Mail owner to cut more than 400 jobs amid print advertising decline
Summary
The dizzying decline of the newspaper industry has meant that The Daily Mail has followed in the footsteps of many other major newspaper conglomerates and is cutting jobs as the print industry is seizing to exist. With sales in printed newspapers not existing in a big enough majority to bring in a good revenue level newspapers are struggling to pay journalists salaries.
Key Statistics
- Daily Mail will cut more than 400 jobs
- There has been a double digit decline in print advertising in the last year
- Re-organisation will result in an exceptional operating cost of £50 million - more than 3 times the amount suggested earlier in the year
- DMGT (Daily Mail and General Trust) employs around 10,000 staff worldwide
- In May, DMGT said print advertising revenues had declined 13% in the 6 months to the end of March 2016
- Newspaper circulation revenues rose 1% in July and August, helped by recent cover price hikes for its national titles.
- The group increased the price of The Daily Mail for the first time in 3 years in February by 5p to 65p
My Opinion
In my opinion, with the continuing developments of the new and digital media the print industry is not going to survive!!!! The Sun has already cut jobs to accommodate for their move to digital platforms. Now The Daily Mail has followed with cutting jobs and its only a matter of time before the remaining newspapers do the same.
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