Fairfax Plans More Cutbacks, $30 million Restructure
More bloodletting at Fairfax Media has been announced as the publishing arm looks to deliver $30 million in annual savings. The major structural overhaul will affect newsrooms at the Sydney Morning Herald, Age, Brisbane Times and WAToday.
Chris Janz, MD at Fairfax’s Metro Publishing division, said the restructure was in a bid to secure the futures of the metropolitan mastheads.
“The primary focus of Fairfax Media over recent years has been to lay the groundwork for the creation of a sustainable publishing model. We are now within reach of that goal,” Janz said in a statement.
“Our publications will be genuine digital businesses with the capabilities and cost base to best operate in the current media environment.”
He said the majority of the savings are expected to show up in the 2017-18 financial year.