Private Media has been hit with redundancies with the Crikey publisher explaining the restructuring was related to a tough economic climate and falling revenue, according to reports.
According to an internal document sourced by The Australian, Private Media CEO Will Hayward announced eight redundancies three in editorial and five non-editorial as the result of a business plan that had not achieved the aim to help revenue and audience growth initiatives.
Whilst we have seen some promising signs from the revenue and audience initiatives in progress, this has not been enough to counterbalance the overall reduction in revenue experienced, it said.
As a result, we have come to the unfortunate decision that redundancies are …
Read the full article at: https://www.mediaweek.com.au/private-media-to-make-redundancies-amid-company-restructure/