More than 100 editorial and commercial jobs are to be cut at Guardian News & Media, publisher of the Guardian, Observer and guardian.co.uk, the company told staff today.
Editorial cuts are to be managed through voluntary redundancies and redeployment. GNM also announced that the Guardian's Thursday Technology print section will cease publication at the end of the year.
Tim Brooks, the GNM managing director, revealed that revenues have fallen by a worse-than-anticipated £33m and that the organisation has already cut £25m from its editorial and commercial budgets.
He added: "In editorial departments, we are seeking voluntary redundancies and redeployments, and until the deadline for requesting redundancy has passed we cannot offer clarity about who is leaving and who is redeploying."
GNM has already been reported to be losing £100,000 a day. It was announced yesterday that the Observer is axing its music, woman and sport monthly magazines.
Barry Fitzpatrick, NUJ head of publishing, said: “We are extremely concerned that these changes are motivated solely by cost-cutting as we have not seen any creative plans for the future.”
14 hours ago