SYDNEY: Struggling Australian publishing giant Fairfax Media said Wednesday it would axe around a quarter of its newsroom staff in Australia, prompting journalists at two of the company’s major newspapers to strike.
Fairfax’s announcement that it would slash 125 editorial jobs at its Australian newspapers came just hours after the company’s New Zealand operation lost out on a proposed merger with another New Zealand publisher. The companies had hoped the merger would save money and stave off job cuts.
Fairfax, which has seen a decline in its advertising revenue and circulation numbers, is attempting to cut costs by 30 million Australian dollars ($22 million; Dh80.8 million). The company had axed 120 jobs from its Australian newsrooms a year ago in an earlier cost-cutting measure.
In response to the latest cuts, workers at The Sydney Morning Herald and Melbourne paper The Age, voted to go on a one-week strike.
