Guardian News & Media to slash over 100 jobs

Guardian News & Media is to cut more than 100 jobs following a £33 million revenue decline.

The publishing group is expected to tell staff about its latest round of redundancies on December 9, although editorial staff are likely to find out later than most due to voluntary redundancies and redeployment, according to reports.

GMN also announced plans to close the Guardian‘s Thursday Technology print section at the end of the year.

In addition, the following supplements are expected to cease publishing at the Observer – Music Monthly, Woman and Sport Monthly, the Escape travel section and the separate business and personal finance section.

The Observer will now only feature four weekly sections and supplements – news, sport, the Review and Observer Magazine, as well as the Observer Food Monthly.

However, the cuts at the title will save around £2 million, according to GNM.

The publishing group has already cut around £25 million from its editorial and commercial budgets, however, revenues have fallen by a worse-than-anticipated £33 million.

Tim Brooks, Guardian News & Media managing director, said: “In editorial departments, we are seeking voluntary redundancies and re-deployments, and until the deadline for requesting redundancy has passed we cannot offer clarity about who is leaving and who is redeploying.”

Carolyn McCall, chief executive of GNM’s parent company Guardian Media Group, added: “We are confident about the long-term prospects of our portfolio of businesses and investments, and about the cash we have – and will have – to support GNM. But that confidence is conditional on the successful implementation of the changes we are making at GNM – specifically a substantial further reduction in costs.”