Fairfax Media will cut a quarter of its newsroom staff from metropolitan mastheads to save an estimated $30 million.
The major player in Australian media on Wednesday announced 125 full time equivalent (FTE) jobs will be cut in a massive restructure.
Staff have until next Tuesday to volunteer for redundancy.
The 125 redundancies includes 10 staff who have voluntarily left since the process began in April, according to an email supplied to Mumbrella.
Staff have been given until next Tuesday to volunteer for redundancy.
Contributors to The Sydney Morning Herald, The Age, and The Australian Financial Review will now be paid per article instead of per word.
Casual staff and freelancers will also be dramatically cut across the mastheads.
Third-party deals are also being reviewed.
The cuts were announced in an email from Sean Aylmer, Fairfax Media’s Australian Metro Media editorial director.
‘While we will be looking across all parts of the newsroom, at the end of the redundancy program we expect there will be significantly fewer editorial management, video, presentation and section writer roles,’ the email said
MORE: Fairfax slashes 25% of staff in $30 million restructure | Daily Mail Online
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