Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Newspaper publisher Trinity Mirror is to make 200 London based editorial and journalistic staff redundant across three of its national titles. Full time and contract staff from the Daily Mirror, Sunday Mirror and the People newspapers will be cut in the company's restructuring plans, which will see its digital and print units merging and the introduction of a new web-based content management system, ContentWatch.
The figures mean that approximately 25% of the company's employees will lose their jobs, and approximately 140 will be those of full time staff - making it one of the largest single redundancy programmes by any newsgroup.
Editor of the Daily Mirror Richard Wallace said "Our future is a multimedia one and we need to transform ourselves into an agile media business, ready to grasp the opportunities and challenges of the multimedia world we now inhabit...We simply have to evolve in order to keep our historic and world famous newspapers as relevant and successful as when they first launched over 100 years ago."
Senior executives at Trinity Mirror's national division, Mirror Group Newspapers, will now enter into a period of consultation with the affected staff. It is hoped that some of the cuts can be made via a voluntary redundancy programme, but it is thought that some mandatory redundancies will also be necessary. The terms have not yet been announced, but are said to be "generous."
No timeframe was given for when the cuts are to be implemented.
Eurofound (2010), Trinity Mirror, Internal restructuring in United Kingdom, factsheet number 70758, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/70758.
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