{"id":92793,"date":"2016-10-03T09:58:42","date_gmt":"2016-10-03T09:58:42","guid":{"rendered":"https:\/\/www.vuelio.com\/uk\/?p=92793"},"modified":"2016-10-03T09:58:42","modified_gmt":"2016-10-03T09:58:42","slug":"dmgt-to-cut-jobs-in-50m-cost-cutting-exercise","status":"publish","type":"post","link":"https:\/\/www.vuelio.com\/uk\/blog\/dmgt-to-cut-jobs-in-50m-cost-cutting-exercise\/","title":{"rendered":"DMGT to cut jobs in \u00a350m cost cutting exercise"},"content":{"rendered":"<p><strong>The Daily Mail and General Trust (DMGT), owner of the Daily Mail and Mail Online <u>has announced<\/u>\u00a0that the company is looking to cut costs by \u00a350 million in a strategic review of its business operations.<\/strong><\/p>\n<p>The cost-cutting exercise which will include a reduction in headcount is part of a process designed to \u201ccreate a greater focus in the DMGT portfolio\u201d.<\/p>\n<p>Alongside the Mail brands, the DMGT portfolio also includes Euromoney, DMG Events and The Metro freemium title.<\/p>\n<p>In a trading update, DMGT stated: \u201cGiven the challenging market conditions facing certain businesses within the portfolio, reorganisation initiatives are being implemented to protect their profitability,\u201d the company said in a trading update on Thursday.<\/p>\n<p>\u201cThese initiatives will create a greater strategic focus and enable more effective decision-making across the group, with the aim of generating future benefits and opportunities for long-term growth.\u201d<\/p>\n<p>Despite a surge in circulation and advertising follow Brexit, the uplift seemed to be short-lived.<\/p>\n<p>Tom Singlehurst, an analyst at Citibank, told journalists: \u201cFollowing a\u00a0<a href=\"https:\/\/www.theguardian.com\/media\/2016\/jul\/21\/daily-mail-ad-revenue-second-quarter-brexit-dmgt\">positive surprise on advertising trends<\/a>\u00a0at the [third quarter] stage, advertising appears to have deteriorated again in the final weeks of the year.\u201d<\/p>\n<p>DMGT has seen online advertising revenues grow by 18% to \u00a313m over the 11 month period to the end of August. However this has been offset by a 13% or \u00a320m fall in the print business.<\/p>\n<p>Some media pundits are suggesting that DMGT\u2019s legacy businesses are causing a problem for the group.<\/p>\n<p>David Reynolds, a city analyst at the global investment banking firm Jefferies, suggested in a note to investors: \u201cSplit the group in two: DMG B2B and DMG Media.\u201d<\/p>\n<p>Reynolds continued: \u201cDMG Media, still a thorny problem, almost feels as if the legacy journalistic approach for the Daily Mail hampers Mail Online.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Daily Mail and General Trust (DMGT), owner of the Daily Mail and Mail Online has announced that the company is looking to cut costs by \u00a350 million in a strategic review of its business operations.<\/p>\n","protected":false},"author":423,"featured_media":92794,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[3729],"tags":[],"_links":{"self":[{"href":"https:\/\/www.vuelio.com\/uk\/wp-json\/wp\/v2\/posts\/92793"}],"collection":[{"href":"https:\/\/www.vuelio.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.vuelio.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.vuelio.com\/uk\/wp-json\/wp\/v2\/users\/423"}],"replies":[{"embeddable":true,"href":"https:\/\/www.vuelio.com\/uk\/wp-json\/wp\/v2\/comments?post=92793"}],"version-history":[{"count":0,"href":"https:\/\/www.vuelio.com\/uk\/wp-json\/wp\/v2\/posts\/92793\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.vuelio.com\/uk\/wp-json\/wp\/v2\/media\/92794"}],"wp:attachment":[{"href":"https:\/\/www.vuelio.com\/uk\/wp-json\/wp\/v2\/media?parent=92793"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.vuelio.com\/uk\/wp-json\/wp\/v2\/categories?post=92793"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.vuelio.com\/uk\/wp-json\/wp\/v2\/tags?post=92793"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}