The Reading Evening Post is set to switch to twice-weekly publication as part of a radical cost-cutting plan by its owner Guardian Media Group.

Up to 95 jobs are also under threat at GMG's Surrey and Berkshire divisions as a result of the proposals which are being outlined to staff today.

The proposals, which also include the closure of four district offices and two weekly papers, follow yesterday's announcement of 150 potential job losses at sister company MEN Media.

The Evening Post - one of the few daily papers to post a circulation rise in the recent ABC figures - will switch from five to two editions per week while the paid-for Esher News and Mail and Aldershot Mail will close.

Around 35 editorial jobs will be lost across all editorial departments and offices in Esher, Wokingham and two in Aldershot could close. All staff will switch to work in either Reading or Guildford.

The division's other titles include the Wokingham Times, Bracknell Forest Standard, Surrey Advertiser and the Surrey and Hants Star.

The Evening Post's circulation rose by 5.9pc year-on-year between July and December 2008, partly as a result of giving away free copies.

Its average daily circulation currently stands at 12,879, 83pc of which is reckoned to be paid-for.

Mark Dodson, chief executive of GMG Regional Media, said: "The role of MEN Media and S&B Media is to produce great journalism for our readers and users.

"If we want to continue to be able to do this, we need to find a new, sustainable, lower-cost business model to support it. The economic viability of local and regional newspapers is under very real and imminent threat.

"The decision about job losses has been a very difficult one to make, and I deeply regret that it has been necessary.

"Nonetheless, I do believe this is the right decision for the future of the businesses and for the majority of staff who will remain with them.

"There is a successful future for local and regional journalism in the commercial sector, but we need to protect our businesses now to give ourselves the best chance of reaching it.

"Some argue that our industry has no future. I think this is completely wrong – people still want local and regional journalism, and advertisers want to reach those people."

The decision to move away from the daily publication of the title marks another stage in the gradual demise of former owner Thomson Regional Newspapers' 1960s dream of a network of daily papers orbiting London.

Other Evening Post titles were launched by TRN in Luton and Hemel Hempstead but Reading's was the only one to survive.