Business-to-business magazine group Incisive Media has become the latest publisher to ask all of its staff to take a week’s unpaid holiday.
The owner of Computing and Accountancy Age told its 2,000 staff late last week about the plan, which it said would minimise the need for redundancies.
According to the Independent on Sunday, staff will be required to take the week between Christmas and the New Year as unpaid holiday.
The week’s pay will be deducted over a 12-month period. The paper estimates that the move could save up to £1m.
James Hanbury, Incisive Media’s chief executive for the UK and Asia, said in a statement: “I have taken further steps to minimise the need for redundancies, including giving staff an additional week’s unpaid leave this year.”
The initiative has already been introduced at the US newspapers owned by Newsquest parent company Gannett.
Staff there are required to take seven days’ unpaid leave over the Christmas period.