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| Version 0 | Version 1 |
|---|---|
| Daily Mail group cuts 1,000 jobs | Daily Mail group cuts 1,000 jobs |
| (20 minutes later) | |
| The Daily Mail and General Trust (DMGT) is to cut 1,000 jobs as the advertising slump continues to hurt newspapers. | |
| The job cuts at its regional arm Northcliffe Media are double what it estimated last November, the media company said. | The job cuts at its regional arm Northcliffe Media are double what it estimated last November, the media company said. |
| Northcliffe Media publishes 113 papers in the Midlands and south of England, selling 4.1 million copies a week. | Northcliffe Media publishes 113 papers in the Midlands and south of England, selling 4.1 million copies a week. |
| It said it has had "difficult quarter" so far and expects a "substantial fall" in profits in the first half of 2009. | It said it has had "difficult quarter" so far and expects a "substantial fall" in profits in the first half of 2009. |
| The "vast majority" of the job cuts have already taken place or are currently under consultation, said a company spokesman. | |
| The DMGT said the job cuts would result in exceptional operating costs of about £20m in the group's half year results. | |
| The company said in its trading update that further costs were being cut in all departments at its newspaper division, which includes the Daily Mail and the Metro. | |
| The DMGT sold the London Evening Standard newspaper in January to Russian billionaire Alexander Lebedev for the sum of £1. |