LE MONDE TO CUT COSTS
December 7th 2007 22:38
LE MONDE TO EMBARK ON A $US16.5 MILLION COST CUTTING EXERCISE IN 2008
Hot on the heels of news of budgets cuts at the New York Times comes word that prestigious French national daily newspaper, Le Monde may be short a baguette or two in the bank.
It needs to save about $16.5 million in 2008 and will announce a cost-saving plan on December 19, just in time to aid employees digestion over Christmas.
Staff cuts are rumoured to be on the agenda.
It’s the usual story with Le Monde: it’s been hit hard by a downturn in advertising which is attributed to bleeding of revenue to the internet and the rise of the dreaded free newspapers, a phenomenon particularly in Europe.
But, according to Followthemedia, this comes at a time when Le Monde’s ceo and its editorial director have their hands out for increased pay.
- From MediaBlab by Peter Olszewski via Dow Jones' Factiva
Hot on the heels of news of budgets cuts at the New York Times comes word that prestigious French national daily newspaper, Le Monde may be short a baguette or two in the bank.
It needs to save about $16.5 million in 2008 and will announce a cost-saving plan on December 19, just in time to aid employees digestion over Christmas.
Staff cuts are rumoured to be on the agenda.
It’s the usual story with Le Monde: it’s been hit hard by a downturn in advertising which is attributed to bleeding of revenue to the internet and the rise of the dreaded free newspapers, a phenomenon particularly in Europe.
- From MediaBlab by Peter Olszewski via Dow Jones' Factiva
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