Independent News and Media (INM) has announced it is to avail of the government's Temporary Wage Subsidy Scheme, as well as imposing temporary lay-offs, reduced hours and pay cuts.

INM publishes several national and regional newspapers including the Irish Independent, Sunday Independent and Sunday World.

In a statement on behalf of the INM executive committee, the company said the "significant negative disruption" being experienced by the business had resulted in certain staff being unable to carry out their roles, resulting in an "adverse financial impact" on the business. 

INM, which employs around 700 workers including 150 in Northern Ireland, confirmed that it intends to avail of government support including the Temporary Wage Subsidy Scheme which is available in respect of eligible employees whose role cannot temporarily be fulfilled.

However, INM has committed to ensuring that such employees will continue to receive 90% of their normal average gross monthly pay during this period. 

Around 90 employees earning below €30,000 or £27,500 will receive 100% of their normal average gross monthly pay, while senior managers across the company have accepted a 10% temporary pay cut. 

Most employees will be moving to reduced hours. 

The statement said the measures will provisionally take effect for 10 weeks from 14 April to 30 June, but will be subject to constant review in light of changing circumstances. 
 
The company said it has thought "long and hard" about these decisions, and has not made them lightly, but believes they are "prudent and right" in response to the challenges which it is facing. 

The statement concludes: "We will continue over the next few weeks to monitor the ongoing impact and consider how we can continue to respond to ensure we protect our future stability."