Papers feeling pinch
Scotsman owner puts staff on furlough, cuts salaries
Papers seeing sharp falls in advertising
JPI Media, owner of The Scotsman, Yorkshire Post and Falkirk Herald, is putting 350 employees on furlough and cutting the salaries of those who continue working by up to 15%.
Employees were told this morning that cutting salaries would help safeguard jobs.
Chief executive David King said 250 sales staff and 100 other employees will be put on furlough “in light of the significant reduction in advertising volumes”.
Sources say 60 of those affected will be journalists and photographers.
The company, headed by a consortium of hedge funds, was formed from the ashes of Johnson Press and also owns titles such as the Sunderland Echo and Sheffield Star.
Mr King said this would last for at least three weeks “but most likely for two months and possibly longer”.