By Sarah Lagan6
Trinity Mirror is tightening its purse strings and editorial is
likely to feel the pinch after the company announced trading conditions
for 2005 have “deteriorated dramatically”, according to a company memo
leaked to Press Gazette.
The memo said the company was unlikely to see any improvements
before the year end and was tightly controlling recruitment and
discretionary spending across the group. Only essential staff who have
left the company will be replaced.
The memo stated: “It is
anticipated that unless the non-replacement of a vacancy is business
development threatening, we will not be filling it for the time being.
Overall labour costs will be much more tightly controlled. This will be
put into immediate effect and remain in place until the New Year, when
a further review will be conducted. All present contractual
arrangements and formal commitments currently in place will be
honoured. Where possible, all discretionary spend will be stopped or
deferred until next year.”
A Trinity Mirror spokesman said: “All
media owners are currently experiencing tough trading conditions due to
the slowdown in advertising markets.
These steps are simply
prudent measures to support our businesses in what is a challenging
period for the entire media industry.”
It is understood that the measures will not affect Monday’s relaunch of the Birmingham Evening Mail.