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June 17 2011

06:08

Guardian's digital-first is in fact a "no-choice" strategy: out of cash in 3-5 years?

The Telegraph :: GNM's "Digital-first" is more precisely a strategy to cut costs. Guardian News and Media (GNM) is to axe dozens of staff after it revealed it lost £33m (€37.6m) in the last financial year. The company, which is owned by Guardian Media Group and backed by charitable foundation The Scott Trust, plans to make £25m (€28.5m) of savings over the next five years and to prioritise digital over print.

GMG declined to put a figure on the number of jobs set to go in the next wave of redundancies but it is thought it could be as high as 175. Chief executive Andrew Miller told staff in a series of briefings yesterday that the group could run out of cash in three to five years unless it underwent a "major transformation".

Continue to read www.telegraph.co.uk

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