Seven journalists made redundant at International Business Times following move to new 'global structure'

London-based news website International Business Times has made seven journalists redundant.

Press Gazette understands that three reporters and four sub-editors were yesterday told they were to lose their jobs as part of a round of cost-cutting.

The moves comes three weeks after a rebrand of the parent company to Newsweek Media. In other changes around half a dozen staff have moved from IB Times to Newsweek, the sister website and magazine which is published out of the same Canary Wharf office.

Press Gazette understands that the two titles have more than 100 editorial staff.

The International Business Times is a free general news website funded by advertising which claimed to attract more than 20m unique users per month at the end of 2015.

In statement Newsweek Media Group said: “Over the last number of weeks, we have been making a number of changes linked to the creation of one global company, bringing together all of our publications under the Newsweek Media Group brand.

“We have appointed several key personnel on the commercial side of our business to better positon us for the growth we wish to achieve, and on the editorial side, we have transferred some staff between our publications and created efficiencies by changing some of the ways in which we have historically operated.

“Naturally, moving to a new global structure has required us to balance our personnel and editorial needs. As we explore new ways to diversify and build our business, our award-winning journalism will remain central to everything we do.”

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