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Evening Standard
Evening Standard
Business
Jonathan Prynn

Reach to cut 200 jobs after slump in Christmas and Black Friday ad revenues

Reach Black Friday Jim Mullen

Newspaper publisher Reach is to axe 200 jobs as part of major cost-cutting following a slump in advertising revenue (Peter Byrne/PA)

(Picture: PA Archive)

Shares in the Daily Express, Mirror and OK! magazine publisher Reach lost a quarter of their value today after the company warned it is to cut 200 posts following a bigger than expected fall in advertising revenue.

They dropped by 27p to 82.4p in early trading as it revealed that digital revenue slumped by 5.9% and print ad revenue by 20.2% in the three months ending on Christmas Day.

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