Daily Mail to cut jobs as advertising revenue continues to fall

Daily Mail and General Trust (DMGT) has announced that it is to cut up to 1,000 jobs, as the advertising downturn continues to affect its newspapers. The majority of the job cuts will be at its regional arm Northcliffe Media, which publishes over 100 newspapers for the Midlands and South East of England.

The job losses are nearly double what DMGT estimated in November, saying that it had been a “difficult quarter” and that they expect a “substantial fall” in profits for the first half of 2009.

The company said that most of the job cuts have already been implemented and that further cost cutting plans were to take effect in all of its departments, including the Daily Mail and Metro offices. The DMGT also stated that it expects its advertising revenue for the first quarter of this year to be down by 24%.