Jobs to be cut at the Guardian as company losses deepen

According to reports in The Telegraph, the Guardian is expected to publish details of a £45 million loss over the financial year to the end of March, along with job reductions, in the next few days.

Despite a plan of cuts totalling £25 million being put in place last year, the newspaper’s losses grew from £43.8 million in the previous financial year to the current figure.

Recently a programme of voluntary redundancy was offered to staff, and it is thought that Alan Rusbridger, editor of the Guardian will hold a series of meetings with members of staff at the company next week.

Chief executive of Guardian Media Group, Andrew Miller is apparently considering the possibility of switching to a tabloid format in order to save money.

Read the full Telegraph article here.