Business Irish

Tuesday 23 September 2014

Jobs to go at the 'Irish Examiner' group of newspapers

Published 17/04/2014 | 02:30

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Peter Flanagan

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THE company that publishes the 'Irish Examiner' newspaper and a number of other titles is to cut almost 10pc of its workforce.

Landmark Media, which also owns the 'Evening Echo' and a number of regional titles as well as the flagship 'Irish Examiner', is seeking 50 redundancies out of a total of 560 staff.

Staff were told of the proposed cuts yesterday. All sectors of the business will be affected. It is expected that about half of the jobs will go from the company's Cork office.

The redundancies at the Cork office are said to be voluntary, while those from the regional offices are more likely to be compulsory.

Landmark Media took control of the newspapers – as well as the Beat FM and WLRFM – 13 months ago. The company, controlled by newspaper executive Tom Crosbie, and backed by his father Ted, took over the newspapers in a "pre-pack" examinership deal with AIB.

Former owner, Thomas Crosbie Holdings, had collapsed under debts of some €28m.

The complex restructuring deal had the effect of freeing the newspaper group from long-term printing contracts seen as undermining the viability of the entire group.

It also meant that the main newspaper remained in the hands of members of the Crosbie family, its long-time owners, but most members of the extended family no longer have any stake in the group.

The NUJ's Irish Organiser Nicola Coleman said: "We are gravely disappointed at the announcement and by the manner of the announcement.

"The union will be consulting our representatives at local level and will be seeking to minimise the job losses. We are opposed to compulsory redundancies and would expect consultation on a voluntary redundancy package."

A message left with Landmark chief executive Tom Murphy was not returned by time of going to press.

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