SMG Makes 95 Cost-Cutting Redundancies

SMG has today announced that its review of staffing levels will result in a maximum of 95 redundancies across its operations by the end of 2001. This represents around 5% of the media company’s total workforce.

Of the 95 redundancies, 17 are management positions. Whilst a further 52 staff have volunteered for redundancy, SMG had to propose a further 26 staff redundancies in order to make the necessary cost savings.

Andrew Flanagan, SMG’s chief executive, said: “The impact of the global advertising downturn has been significant and, with no visible evidence of the timing of an upturn, we’ve regrettably had to take this difficult but prudent action. However, we have strong businesses, based on well-branded, popular products and I’m confident that we’ll be well-placed for the upturn when it comes.”

SMG: 0141 300 3000 www.scottishmediagroup.com

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