A £150 million investment programme by the Telegraph Group, will result in 90 journalists losing their jobs from the Group’s flagship newspapers, The Daily and Sunday Telegraph, the company announced today.
The organisational cuts are to be implemented to fund a £150 million investment in colour printing and increasing pagination, giving both papers an extra eight pages in colour.
Murdoch MacLennan, chief executive of The Telegraph Group, announced the cuts in a letter to staff.
“Journalists are the lifeblood of any newspaper, and maintaining the quality of The Daily Telegraph and The Sunday Telegraph for our readers is vital,” MacLennan said.
“However, action to improve our production capability and secure our titles against the competition is also vital. That is why the measures of the kind we anticipate have the complete support of our editors.”
Last year the billionaire Barclay brothers succeeded in their hard-fought battle to take control of the Daily Telegraph and its sister publications with a winning bid worth £665 million (see Barclay Brothers Take Control Of Telegraph Titles).
The reclusive media moguls, who own the Business and the Scotsman, saw off a rival bid from venture capital firm 3i and its US partner Veronis Suhler Stevenson in the final round of bidding.
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