Trinity Mirror, Britain's largest regional newspaper group which owns the Sunday Business Post, said it will shed a total of 800 jobs in the next two years as part of a major cost-cutting programme to boost its flagging profits.
Ted Harding, deputy editor at the Sunday Business Post, told OnBusiness that the job cuts would have no impact on the Dublin operations.
Trinity Mirror's Chief Executive Philip Graf said the job cuts were part of an effort to eliminate £30-35 million in annual costs by 2003. Already this year, 200 jobs had been lost and 600 more were on the way, Graf said.
Mr Graf also said that national advertising revenues had increased 2% year-on-year in July, after a 7% fall in June. Regional ad revenues continued to grow, but at a slower rate, rising 3% in July, he added.
First-half pre-tax profit came in at £80.9 million versus £89.6 million in the first half of 2000, the first year after the merger of the Trinity and Mirror groups.
