Daily Mail publisher to cut up to 100 jobs as revenues fall

The publisher of the Daily Mail, Mail on Sunday, the i and Metro is to cut up to 100 roles as the coronavirus pandemic continues to hammer the newspaper and magazine industry.

Daily Mail and General Trust, which also owns MailOnline, is making cuts across the editorial and commercial operations at its publishing arm DMG Media. The company has started a consultation with staff.

One hundred roles have been put at risk, although it is not clear ultimately how many people will be made redundant. The majority of the cuts will come from the commercial side of the business.

Editorial changes will include the scrapping of the Mail on Sunday’s Event magazine as a standalone product. Printing of the magazine was halted during the pandemic, with content including a column by Piers Morgan running in the Mail on Sunday instead.

A number of staff at You magazine are also set to be made redundant. A spokesman for the company declined to comment.

In April DMGT decided against furloughing any of the 2,400 staff at its publishing operation, instead asking employees to take a temporary pay cut in return for shares in the company.

At the end of the year they will be able to cash in the shares, and if the price has dropped the company will make up the difference. Alternatively they can hold on to the shares as an investment.

DMGT said print advertising across its portfolio of titles fell by 69% in the three months to the end of June. The publishing arm recorded a 17% reduction in digital revenues, despite an impressive increase of well over a third in traffic to its main digital property, MailOnline.

Last week the Evening Standard cut 115 jobs, a third of its workforce, in an attempt to reduce costs to survive.

In July, Reach, the owner of the Daily Mirror, Daily Express and Daily Star, cut 550 jobs, 12% of its workforce. The company, which also owns hundreds of regional titles including the Manchester Evening News and Liverpool Echo, reported a 28% fall in revenues in the second quarter.

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