Nine to cut jobs as part of move to ‘toughen up’ in difficult economic environment
Nine is set to cut jobs as the media company continues to struggle in a difficult advertising market.
In an email to staff this afternoon, Nine Entertainment CEO David Gyngell wrote that he has asked managing director Jeffrey Browne and Nine Events MD Geoff Jones to identify specific cost-cutting measures within their businesses.
Mumbrella understands that while there may be redundancies, any cuts at this stage would be voluntary.
“The reality is this: the environment remains difficult and we have to toughen up find ways to save cost and operate more efficiently,” wrote Gyngell in the email.
Gyngell wrote that staff would be informed of the direct impact of the changes through their individual business units.
The email to staff Gyngell also briefed Nine staff about the transition to a new ownership.
It is understood that the latest round has come from Nine’s management rather than the new board.
“The cost cutting strategy has nothing to with the new financial structure of the company nor its new board. The fact is they haven’t even met, ” said a Nine spokesman.
Nic Christensen
Geoff Jones is Nine Events’ MD.
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Geoff Jones is Nine Events’ MD.
Amazing The Oz and Mumbrella managed to get the same name wrong in the same way.
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Hi Biting the hand,
It was a mistake. I think you’ll find our sources for this story were similar.
The error has now been corrected. Thanks for bringing it to our attention.
Kind Regards,
Nic
Journalism these days just a photocopier for press releases it seems – same stuff, same errors
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