Trinity Mirror: No bonuses for 2012 but all staff to receive £100

Trinity Mirror has told staff that no payments will be made under its 2012 bonus scheme and that it plans to cut a further 32 non-editorial staff across its offices in Manchester, Cardiff and Birmingham.

Chief executive Simon Fox said that despite improved trading from Trinity’s nationals division towards the end of last year “our challenging budgets for 2012 will not be met and therefore no payments will be made under the 2012 bonus schemes". 

In a memo to staff this week, Fox said the decision “in no way reflects the extraordinary amount of work which has been going on across the business in a very difficult economic environment”, adding that all staff will receive a £100 one-off bonus next month.

Fox said: “In recognition of everyone's efforts, and in particular in respect of the work which has gone into defining our new One Trinity Mirror strategy, I am pleased to advise that a discretionary, one-off One Trinity Mirror Bonus of £100, will be paid to all current employees.”

The payment is intended to acknowledge the “palpable buzz of activity and excitement in the business as we set out our future course” said Fox.

In a separate announcement, the company told staff of its proposal for the future of Trinity Mirror Publishing sales ledger and credit control functions, which will see a restructure of its finance department structures across the UK.

The company wants to create three credit control centres and two sales ledger centres. The credit control centres will be in Glasgow, Newcastle and Liverpool with the two sales ledger centres in Liverpool and London. This move will lead to 32 jobs being put at risk of redundancy.

Earlier this week it emerged Trinity is to introduce a set of five newspaper templates that will be used across its entire regional newspaper portfolio.

That news came a week after the company announced that 92 editorial jobs are to be cut from its regional titles in England and Wales, with a further 52 jobs being created across the national and regional titles. 

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