Trinity Mirror plans £25m cuts in 2011
12 August 2011
The Trinity Mirror group is planning cuts totalling £25m in 2011. The NUJ is calling for urgent talks with the company's board following confirmation of the plans.
A half-yearly financial report for the 26 weeks ending 3 July 2011 shows a sharp drop in operating profit of 23.7% against last year.
Martin Shipton, father of the NUJ chapel at Trinity Mirror, said:
"The level of cuts being imposed across the group is extremely likely to damage the quality of its newspapers at a time when consumers are thinking seriously about how to spend their money.
"We realise that advertising revenue has been badly hit by the economic conditions in Britain, but current decisions have an element of panic about them. We are concerned that deep cuts of the kind already being imposed at Trinity Mirror centres like Cardiff and Newcastle will contribute to a downward spiral.
"We are aware that the group has a high level of debts and that the board is seeking to reduce the level of borrowing. We fear it may be cutting too far, too quickly. Decisions are being taken at corporate headquarters in Canary Wharf that affect our members' livelihoods and the newspapers we work for.
"Telling us simply to talk to our local managements is wholly inadequate when local managers have no discretion over the scale of the cuts they are expected to impose. The time has surely come when the board should discuss the group's future strategy with the NUJ at a national level."
Michelle Stanistreet, NUJ general secretary said:
"The NUJ believes the morale of staff is on the floor after years of cuts, and the jobs massacre at Trinity Mirror must stop.
"Trinity Mirror's future success depends on its staff who have performed impressively in the face of falling living standards and job cuts.
"We urge Trinity Mirror to engage in national talks with the NUJ to deal with this crisis, in the interests of staff, shareholders and readers."