Cost savings

Record and Express owner Reach to cut 450 jobs

Record and Express
The Record and Express are among Reach’s titles

Daily Record and Daily Express owner Reach has announced 450 job cuts across its titles as it slashes operating costs.

Reach, which also owns the Daily Mirror and titles across the UK, including many of big city newspapers, announced in March that it wanted to cut costs this year by between 5% and 6% and today said the programme is on track to be delivered.

It now wants to repeat the programme next year as part of the company’s “drive to strengthen its position as a leading digital publisher, and mitigate against the backdrop of continuing inflationary pressures that we expect to impact 2024”.

The total workforce will be cut by an estimated 450 full time roles. No details were given as to where these cuts will fall.

It said the savings will allow the business to deliver on its long term plans, while continuing to invest to drive better customer value, develop online products and grow new audiences.

Jim Mullen chief executive: “Our industry has a history of change and the future will undoubtedly involve yet more.

“That’s why it’s essential we set ourselves up to win, by making our operations suited to an increasingly fast-paced, competitive and customer-focused digital world.

“Hard work over the last few years means we have established ourselves as a leading digital publisher. But there’s more to do and today is about organising our business to deliver against that challenge.”

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