REACH, the UK publisher that owns newspapers including The Daily Mirror and The Daily Express as well as being UK’s largest local newspaper publisher is planning to cut 550 jobs as it struggles with the consequences of falling advertising income and readership during COVID.
About 1,000 members of staff have been on the government’s furlough scheme since April.
As well as cutting 12 percent of its workforce, Reach also plans to close some of its offices and centralise operations.
The publisher owns the Western Mail, Evening Post, South Wales Echo, and the Daily Post
Its revenues in the quarter to June 28 were down 27.5 percent overall. Print revenues were hit harder, dropping 29.5 percent, while digital revenues fell 14.8 percent. Circulation of its print titles remained significantly below pre Covid-19 levels
This news follows announcement by Newsquest newspaper group that some 25 jobs are to be lost in Wales. Newsquest owns the Western Telegraph, South Wales Guardian, and South Wales Argus.
In the decade to 2018, about 250 local newspapers closed in the UK, according to industry magazine the Press Gazette.