B2B publisher Reed withdraws from construction sector
Reed Business Information has withdrawn from the construction B2B publishing market in Australia as part of a restructure of its operations which has seen around 14 redundancies.
In an email to advertisers on Friday afternoon citing a global restructure, the company said:
“The decision to exit the construction B2B publishing market was based on the commercial viability of the magazines and websites we have in this sector. The changes we have made will allow us to focus resources and expertise on our other online and offline brands in the manufacturing, engineering and building markets.”
The company has closed Construction Contractor magazine, which focused on civil contruction and structural engineering and will also close its sister website. The March edition of Construction Contractor, which had already been printed, will be the last.
In b2b publishing the print space is becoming increasingly challenging. Online provides a far more targeted and measurable medium, and sites like IndustrySearch.com.au are increasing market share in some of these core b2b categories.
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Whilst sites like Industrysearch might be increasing market share sites like Ferret.com.au are established, accountable and already working very well for advertisers in the industrial, manufacturing and mining sectors.
The big concern is the lack of honesty and clarity reed and its online divison “Catch” have with staff. Decisions are being made months before the poor sodds are “boned” and 20 plus people are left to fight for a handful of jobs. Double slap in the face in return for their years of loyalty. Big lesson in life. If you think they return your loyalty with loyalty then you are screwed.