Fairfax to cut 45 staff members

October 6, 2013

Fairfax Media, currently Australia’s chief competitor to News Corp, has announced it will cut 45 members from its business news and magazine sections.

Citing falling revenue, Fairfax’s managing director Allen Williams announced in a memo that redundancies will be offered to 20 magazine employees and 25 business-news.

This will be from closing magazine inserts in Sydney and Melbourne papers, “Sydney Morning Herald” and “The Age” respectively, and combining reporting teams from “The Australian Financial Review” and the web-only “BusinessDay”, two of Fairfax’s business publications.

Interestingly, the announcement has achieved its apparent intention to increase revenue by increasing Fairfax’s share price by 0.4 per cent.

It’s always sad to see job losses in the media, but these are especially depressing because I generally like Fairfax’s “persona”. “The Age” and “The Sydney Morning Herald” offer quite moderate, and even somewhat-liberal editorial content (despite their inclusion of former-politician and hardline conservative Amanda Vanstone as an opinion writer). If nothing else offer these papers offer a welcome alternative to News Corp’s, which I have previously argued often lack journalistic integrity.

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