Evening Standard to slash third of jobs after virus hits advertising
The Evening Standard is to cut around a third of jobs after advertising and circulation were impacted by the coronavirus pandemic.
It is understood that around 115 employees at the media business will be affected by the cost-cutting move, including 69 journalists.
The company has said it will focus on its “digital and mobile offering” as part of the restructure, while also developing a live events business.
It stressed that the restructuring is a result of “difficult market conditions” which have recently affected the media industry and been accentuated by the pandemic.
The newspaper relies on advertising for 80% of its revenues.
In March, the newspaper altered its distribution model to deliver issues to homes in London, in a move which roughly halved its distribution.
In June, it named Emily Sheffield as the newspaper’s new editor, with George Osborne becoming its new editor-in-chief.
The Evening Standard was founded in 1827, originally titled 'The Standard'.
It is the latest media business to announce job cuts, after Daily Mirror owner Reach said it will cut around 550 jobs in a bid to reduce costs.
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