Fairfax Media has announced that it plans 13 redundancies at the Financial Review Group as it outsources further production and subbing functions to its NZ operation.
The “streamlining” move will see the FRG group move into line with the sister Fairfax Metro Media titles with subbing of titles such as the Australian Financial Review and BRW moving from Sydney to New Zealand.
According to an announcement from Fairfax: “The proposal has been prepared after a detailed review of FRG operations. Staff are being fully briefed on the changes and a detailed consultation process has begun.”
The statement went on: “FRG, like every media business in the world that is committed to its future, is changing and improving the way it delivers journalism and services. Its cost base is being reshaped to match the business and it is changing the way it delivers its journalism and services to better meet the needs and expectations of its readers.
“The proposed copy sub-editing arrangements would assist in the streamlining of the business and deliver significant cost efficiencies while ensuring the masthead, magazine titles and digital platforms remain high quality news sources of choice for FRG’s loyal readers.”
Fairfax Editorial Services in NZ will take on the work of copy subbing. A total of 13 full time equivalent posts will be made redundant with staff retained in Sydney for web production, design and layout and page output. Journalists’ union the Media Entertainment & Arts Alliance has been notified, Fairfax said.