Daily Mirror and Express publisher Reach plc is cutting around 450 more jobs, or around 10% of its staff, as it aims to mitigate “inflationary pressures” that it expects to see in 2024.
The news media giant, which also owns the Daily Star, already undertook major cost-cutting at the beginning of this year, cutting around 200 jobs as it aimed to cut spend by 5-6%. However, it now says it will make further cuts “to strengthen its position as a leading digital publisher, and mitigate against the backdrop of continuing inflationary pressures that we expect to impact 2024”. It hopes that this will save another 5-6% of costs.
