Confirming earlier rumours, MEN Media has announced 40 redundancies. MEN Media comprises the TV station Channel M and over 20 newspapers – daily, weekly and free.
The company has also said it has reached agreement with the trade union ANITE on a new pay deal for this year.
Nine of the 40 positions involve compulsory redundancy. At least eight journalists will be leaving and the remaining job losses will affect all other departments spanning operations at Scott Place in Spinningfields.
The company said the reductions are necessary to help it face an increasingly digital future combined with substantially lower levels of classified advertising, in particular recruitment advertising.
Mark Dodson
Chief executive of GMG Regional Media, Mark Dodson, said: "The past two years have seen the rate and pace of change in our industry accelerate beyond all predictions.
"As a company with a large proportion of its revenues linked to print businesses, it is now time to reshape the division for a digital future.
“This will mean that we are best able to face the demands of an increasingly competitive marketplace head on and with confidence."
The company has seen advertising revenues fall sharply with recruitment advertising volumes in particular down by over 20 per cent in the past year.
MEN Media added that although it is witnessing healthy growth in digital revenue, it is unlikely to be sufficient to compensate for the decline in traditional print advertising and ongoing business reviews were necessary to ensure the company is in shape for further challenging trading.
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