Media giant sheds 120 editorial jobs in latest round of cuts
March 20, Sydney: MEAA has blasted the management of Fairfax Media after the company announced a further 120 editorial jobs would be axed in the latest cost-cutting drive.
The job losses, which Fairfax wants to make to The Sydney Morning Herald, The Age and The Australian Financial Review, translate to about a quarter of the remaining editorial staff in the Sydney and Melbourne newsrooms.
MEAA CEO Paul Murphy said the announcement was a “body blow”, particularly after Fairfax recently posted a half-year profit of $27.4 million.
MEAA believes that yet another round of editorial redundancies only erodes the Fairfax business. It also calls on management to consider smarter ways of identifying business efficiencies as a way of lowering costs so that it can continue to produce the high standard of journalism its audience wants.
“Constantly cutting away swathes of the very people who create the journalism that is the reason your audience buys your product makes no sense.”
The Oslo Times