The Week: Media news - Jobs tumble at NatMag

The National Magazine Company is making 15 per cent of its staff redundant, in a bid to cut costs in the face of what it described as "unprecedented economic challenges to the business".

It is expected that the number of people affected will be close to, but fewer than, 100. The cuts will be implemented across the entire business. Duncan Edwards, the NatMag chief executive, said that dramatically worse business conditions than had been forecast six months ago had forced the company to take the measure.