Trinity Mirror plans massive job cuts
1 February 2012
A massive 75 jobs are to go at Trinity Mirror's national newspaper titles – the Daily Mirror, Sunday Mirror and The People.
In a shock announcement this afternoon, staff across all three titles were summoned to a meeting to be told of the cuts. The company plans to centralise subbing and production across all titles and to pool features and news.
The cull comes after the total directors' pay and pensions bill for Trinity Mirror last year was £3.9million - £1.3million of which was cash bonuses. Of that, Sly Bailey's package of pay and pensions was a staggering £1.7m, including a cash bonus of £660k. However, the share price for Trinity Mirror today is 48p. Twelve months ago it was 90p.
Michelle Stanistreet, NUJ General Secretary said:
"These cuts represent a depressingly familiar tale at Trinity Mirror. Rather than invest in quality products – and continue to build on recent growth in circulation on the Sunday titles – the strategy is to cut jobs and compromise quality journalism.
"Where is the strategy for growth and the future? Journalists are paying with their jobs for the corporate mismanagement and incompetence of Sly Bailey and her senior executives – yet still they continue to award themselves lavish pay."
The NUJ will be organising meetings of members to discuss the union's response.