01/03/2002

Trinity Mirror to make second wave of job cuts in a year

Leading UK newspaper publisher, Trinity Mirror has announced plans to shed 300 jobs within the group.

The news came as the company reported a near five per cent rise in turnover for the 12 months to December despite what it described as one of the toughest trading periods in its history. These latest cuts follow last July's jobs cuts of 800 staff by the group.

Commenting on the past year, Chairman Sir Victor Blank said: “In the course of the past year we have strengthened Trinity Mirror, during one of the toughest trading periods in recent history. We have delivered a cohesive and wide-ranging review of our regional businesses that is starting to deliver real operational benefits; our Scottish national titles are beginning to create more value from their market leading positions and now we are outlining a new and revitalized strategy for value creation in our Mirror titles.

"In the first two months of 2002, the advertising market has remained tough. The directors believe it is prudent to plan on this remaining so throughout most of the year. However, the strategic initiatives and successful cost reduction programmes give the Board confidence in the underlying performance this year.”

Regionally, Trinity Mirror's titles reported advertising growth of one per cent in December, but this figure fell back by six per cent in January and three per cent in February. (MB)

Related Northern Ireland Business News Stories
Click here for the latest headlines.

01 November 2018
CMA Launches 'Stop Cartels' Campaign
New research has revealed that many firms don't know enough about how to comply with competition law, according to the Competition and Markets Authority's (CMA). Citing this research, the CMA has launched a cartel awareness campaign, which aims to educate businesses about which practices are illegal.
14 June 2010
CIPR Journalism Awards In Full
Deric Henderson of the Press Association has been awarded the Journalist of the Year title The Belfast Telegraph lifted the title for Coca-Cola CIPR Newspaper of the Year, and the BBC's Spotlight Programme won the Coca-Cola CIPR Scoop of the Year and the Coca-Cola CIPR Current Affairs Programme of the Year for its Irish Robinson Investigation.
31 July 2003
Trinity Mirror to axe 550 jobs
Newspaper publishing group Trinity Mirror are to shed 550 jobs and dispose of its publishing interests in Ireland as part of a restructuring programme announced today. Trinity Mirror Chief Executive Sly Bailey said that the restructuring plan would be primarily aimed at "bolstering the group’s national titles".
13 September 2001
BAE Systems reveals first-half year profits
Defence giant BAE Systems has posted a modest four per cent rise in first half year profits but said it expected growth to pick up next year. The company, which is the fifth-largest supplier to the US military, posted pre-tax profits of £482 million for the first half of 2001.
11 July 2001
SAFEWAY MAKE STRONG START TO NEW FINANCIAL YEAR
SAFEWAY has recorded significant sales increases in the first quarter of the financial year for all its retail operations throughout the province. Overall sales, stimulated by the growth of new stores opened last year, grew by 6.3 per cent compared with last year.