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Guardian to axe 100 more editorial staff: Report

After deciding against the closure of The Observer, the Guardian Media Group is mulling to cut up to 100 more editorial staff, as a cost cutting measure, media report says.

world Updated: Sep 20, 2009 21:40 IST

After deciding against the closure of The Observer, the Guardian Media Group is mulling to cut up to 100 more editorial staff, as a cost cutting measure, media report says.

"Guardian Media Group is preparing to cut up to 100 more editorial staff as it looks for more ways to cut costs after deciding against the closure of The Observer," the Sunday Times reported.

Guardian News & Media, which had a 36.8 million pound operating loss last year, had earlier said that it would trim 50 posts from its editorial staff of 850 by the year-end.

"A voluntary redundancy scheme is being reopened. Some 82 posts have already gone from the commercial side of the business," the daily added.

Last week, while announcing the continuation of its Observer newspaper, the Guardian Media Group had hinted that there would be further integration of its staff at the Observer and the Guardian.

Quoting Carolyn McCall, group chief executive, the report said, "GNM is looking to the future and making sure it's in good shape."

"The debt-laden Independent is seeking another extension of its standstill deal with bondholders, which expires on Friday. If the deal fails, the group may have an emergency rights issue," the Sunday Times added.