Irish Times seeking €3.5m cost-savings in next three years
The Irish Times is seeking to initiate cost savings of €3.5m within the next three years to avoid being forced to eat into cash reserves.
Independent.ie understands the company is also planning to cease publication of its UK edition, and will also lease out two floors of its offices on Dublin's Tara Street.
The planned cost cuts will include a hiring freeze and reduction in head count through attrition - not replacing staff who retire or take up jobs elsewhere.
Staff were told at a company meeting yesterday that there will be a more intense focus on digital content, as the newspaper's print sales generally continue to come under pressure.