Nine Axes 144 Jobs After Fairfax Merger
Nine Entertainment will see around 144 roles be made redundant, as it begins an internal restructure following the history-making Fairfax merger.
Revealed by The Australian, an internal note claims over a hundred jobs will be made redundant, citing role duplication and vacant positions no longer required. The restructure will reportedly affect around 92 people.
It comes just a week after the Federal Court approved Nine-Fairfax’s merger – tipped to create a $4 billion media powerhouse.
Lead by Hugh Marks, the new entity will be called ‘Nine’, with some commentators asserting its axed the 150 year old Fairfax brand.
Disclosed in the note, Marks reportedly claims the restructure will strengthen both audience and client offerings.
The merged entity is expected to commence trading early next week.
So after 150-plus years this is all we get: “I would like to thank everyone for their contribution to Fairfax” https://t.co/GHjXMRTX2f
— Kate McClymont (@Kate_McClymont) 25 July 2018