Regional publisher Northcliffe Media reduced its headcount by 11pc in the six months to April according to new company figures published today.
In a half-yearly report, parent company DMGT revealed that Northcliffe shed 336 jobs in the period – with “further cost reductions” on the way.
Despite the savings, profits at the regional publisher fell £4m year-on-year to stand at £8m.
Northcliffe’s revenues were down 9pc in the period, covering the first half of DMGT’s financial year which runs from October.
The report said that the company’s recent trading has “reflected the weak economic environment and the reduction in public sector spending.”
Circulation revenues in the period were down 6pc, but recruitment revenues fell by 28pc.
Said the report: “Trading during April and the first three weeks of May has seen advertising revenues 10pc below last year and a challenging second half is expected.
“Overall operating margin is expected to be maintained through further cost reductions.”
New Northcliffe boss Steve Auckland has already announced a review of the company’s portfolio which could see some daily titles going weekly.
It is understood that discussions are continuing over which titles are likely to change frequency.
Digital revenues for the period were down £9m, with a 21pc decline in recruitment revenues offset by growth in property, motors and services revenues.
The report said visitor numbers to the ‘thisis’ network of newspaper companion sites grew by 21pc in March while visitors to the localpeople network of community sites grew by 85pc.