Seven axes 50 sales staff
Seven has made 50 members of its sales team redundant in the latest round of cuts for the business. Mumbrella understands that figure equates to approximately 25% of its total advertising team.
Seven has already lost a number of staff due to the impacts COVID-19 has had on the media business and the remaining workforce have had to take 20% pay cuts. The latest round of cuts came through the business on Wednesday.
50 staff have been cut from the sales team of Seven
This week Seven Studios boss Therese Hegarty left the business after eight years. Last week the business finalised the sale of its magazine arm Pacific Magazines to Bauer Media, with 60 staffers made redundant during the first week under the merged entity. Seven had been trying to sell its Studios business, with Amazon reportedly among the interested parties, but it’s understood that effort has been put on ice due to the pandemic.
Sources told Mumbrella the direct sales teams in Sydney and Melbourne have been decimated by the cuts, as have sales staff in Adelaide and Perth.
Seven has already lost its network director of sport sales Patrick Moloughney. Moloughney has taken a role with Crocmedia as commercial director and will commence in July.
The media company has flagged a number of cost cutting priorities as it struggles to deal with the impact of COVID-19. $20m in additional savings are being eyed for the second half of the 19/20 financial year, with $15m already executed across the business.
Seven declined to comment.
topics
coronavirus
COVID-19
James Warburton
Pacific Magazines
Pat Moloughney
Seven
Seven West Media
Therese Hegarty
Hmmm, the last paragraph.
It could be halved to just “Seven declined”. An apt postscript.
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