The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Publishing Of Information; Production And Programming Of Audiovisual Publishing Activities 58.13 - Publishing of newspapers
300 jobs Number of planned job losses
Announcement Date
4 February 2005
Employment effect (start)
1 April 2005
Foreseen end date
Description
The Telegraph Group, the newspaper publisher announced a large-scale investment in upgrading its printing presses, promising to spend £150 million in a move that will be partly financed by the loss of up to 300 jobs. Editorial staff were told that 90 journalists would be made redundant, one in six of the editorial staff of 521 across the Daily and Sunday Telegraph. More than 200 jobs in other departments across the company are also to be cut to pay for the investment. Murdoch MacLennan, the group chief executive, promised 'generous' redundancy packages. The management will start a consultation process with staff and unions next week, with full details unlikely before Easter 2005.
Sources
5 February 2005: The Guardian
Citation
Eurofound (2005), Telegraph Group, Internal restructuring in United Kingdom, factsheet number 61100, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/61100.
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