Trinity Mirror announces more cuts

by Josh Brooks, PrintWeek 15-Dec-05, 13:34

Newspaper publisher Trinity Mirror is aiming for further cost savings of £15m in 2006 as a response to increasing newsprint prices and the weak advertising market.

In a trading update issued this morning, the group, which publishes around 250 newspapers from its nine print sites, said that its ad revenues in the five months to November had fallen 7.9%. Revenues were likely to be down nearly 4% for the year.

Management was "running the business on the assumption that the advertising environment will continue to be challenging", the statement said.

The savings will be the result of locally-conducted reviews of all the businesses in the group, including printing.

Reports have suggested that up to 770 redundancies could result from the process, which has already incurred exceptional costs of £12m.

A Trinity Mirror spokesman said that consultation was currently underway with affected staff, but that the process would not be concluded before the group's preliminary results on 2 March.