Business a.m. cuts 12 staff

LONDON - Business a.m, the Scottish financial newspaper, has confirmed 12 jobs, 10% of its workforce, have been axed after parent company Bonnier approved new budget proposals and a restructuring plan, which secured £8m in new financing.

It had been speculated that as many as 16 staff might lose their jobs.



Last month, Business a.m. editor and managing director John Penman and assistant managing director Anthony Jackson went to Stockholm to present a reworked 2002 budget and three-year business plan to the Bonnier press division board.



The proposals, which included the redundancies, were accepted and the funding awarded. Had the proposals been rejected, the tabloid daily faced almost certain closure.



The axed staff -- seven of them journalists -- learned of the job cuts on Thursday and left the company on Friday. The newspaper will also cut down on the number of freelances it employs, particularly foreign ones.



The title must achieve circulation of 15,000 next year and revenues slightly up on this year if it is to break even in 2005.



If you have an opinion on this or any other issue raised on Brand

Republic, join the debate in the Forum here.





Claire Billings, recommends

Business a.m.

Read more

You have

[DAYS_LEFT] Days left

of your free trial

Subscribe now

Become a member of Campaign from just £46 a quarter

Get the very latest news and insight from Campaign with unrestricted access to campaignlive.co.uk ,plus get exclusive discounts to Campaign events

Become a member

Looking for a new job?

Get the latest creative jobs in advertising, media, marketing and digital delivered directly to your inbox each day.

Create an Alert Now
Share

1 Why creative people have lost their way

What better way to kick off the inaugural issue of Campaign's monthly print offering than with another think piece on the current failings of our industry, written by an embittered, pretentious creative who misses "the way things used to be"...

Share

1 Job description: Digital marketing executive

Digital marketing executives oversee the online marketing strategy for their organisation. They plan and execute digital (including email) marketing campaigns and design, maintain and supply content for the organisation's website(s).