Fairfax to shed 1900 jobs
SACKING 1900 staff and closing two metropolitan print sites will help drive $235 million in cost savings at Fairfax Media each financial year by 2015.
The company on Monday announced major changes, including reducing Melbourne's The Age and Sydney Morning Herald from broadsheet to tabloid size.
Jobs cuts will come with closing print sites in Tullamarine, Victoria and Chullora, New South Wales, as well as about 20% of all editorial staff to go.
It was the latest in a series of efforts to keep the traditional newspaper company afloat despite falling advertising revenues.
The company said it would also be erecting a pay wall around its metropolitan newspaper websites, expected later this year.
Chief executive Greg Hywood did not rule out removing printed products altogether if costs changed materially.