Fairfax media has announced that it will cut 45 jobs after shutting down its Sydney and Melbourne magazine inserts and merging business reporting across three newspapers.
According to news.com.au, the company is seeking voluntary redundancies from 25 business media staff and 20 employees from the News Media and Life Media magazine section.
The company said that the job cuts will happen after integrating reporting teams from newspapers The Australian Financial Review (AFR) and BusinessDay (Sydney Morning Herald and The Age).
The report said that the struggling owners of The Sydney Morning Herald and The Age newspapers had announced last year that it would cut 1900 jobs as it restructures amid plunging circulation and advertising revenue and the latest cuts are part of the 1900 job losses.
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