Independent mum on effect of cost cuts on jobs
Independent Media group to restructure and consider retrenching staff
The Independent Media group has confirmed that it is restructuring, but not saying how many jobs will be affected. The group, which owns or has stakes in newspapers including The Star, Cape Argus, Cape Times and The Mercury, reportedly has to cut costs at divisions including lifestyle, sport, politics, editorial production and live editors. Independent Media sent section 189 letters to staff in these divisions. The confirmation comes after Independent Media chairman Dr Iqbal Survé and Business Report editor Adri Senekal de Wet claimed the group was highly profitable. The group, like its competitors, has had to move away from print media towards online and multimedia to stay profitable. The letters said that the group had to make more income from nonprint sources and faced competition from overseas media and media houses using better technology than it had been using for years. The section 189 letter seen by Business Day said the restructuring process had to be completed by December ...
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