Fairfax Media yesterday signalled the beginning of the end for its broadsheet titles by announcing the mastheads would be printed in tabloid-size from March 2013. And the downsizing doesn’t stop at the size of its newspapers, with the shock announcement that 1900 jobs are to be lost from the organisation. Such job losses will result from the closing of Fairfax owned printing presses in Sydney and Melbourne and will also see one in four journalists lose their jobs.
The next step for the media group, shares in which are being stealthily gathered by mining mogul Gina Rinehart, is to introduce a paywall around its online content. This will perhaps be the biggest nail in the coffin for printed newspapers.
Fairfax is not the only media organisation announcing a radical reduction in staff numbers. Rival group, News Limited, is also expected to announce restructuring plans including the shedding of up to 1000 jobs.
Read the full story at The Australian.
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