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News UK under pressure
5 July 2020, 19:28
Significant job losses are expected at the under pressure media group News UK, with cuts predicted across its newspaper and radio business.
Although it is not known if big name columnists such as Jeremy Clarkson, Lorraine Kelly and Rod Liddle will be affected, the owner of The Sun and The Times has begun a review across every part of the company and says there will be “tough decisions” because of the impact of the coronavirus pandemic.
In a memo to staff seen by LBC, News UK said it will need to “streamline” the business and warned it would mean “saying goodbye” to colleagues.
“In order for us to be able to continue to invest and to deliver a profit, we need to have a laser focus on costs and to take a hard look at the whole business.
"We need to fast-forward our transformation programme towards a digital future.
"We are now starting a process of reviewing the business in detail and determining the areas that will drive our future growth.”
The outbreak has accelerated the already steep decline in print advertising and sales at News UK.
The Sun and The Sun on Sunday alone are reported to have made a loss of £68m last year before the onset of coronavirus.
A spokesperson for News UK said: "As a result of the coronavirus lockdown period, the impact on revenues and the change in behaviour of our customers and clients means the transition to a digital future has accelerated sharply.
"We have evolved at pace, but that evolution continues. To secure the future of our brands, in the coming months we will need to streamline the business and to take some tough decisions.
"Delivering great products for our customers is our priority, but everything we do must make financial sense."