Business publisher Incisive Media is set to axe up to 50 jobs as the latest round of credit crunch casualties, reports Media Guardian.
The company, which owns a number of titles including American Lawyer and Accountancy Age, is rumoured to have implemented a recruitment freeze three months ago.
In September this year the publisher merged technology weeklies IT Week and Computing, a move that director Graham Harman denied was a cost cutting exercise. He said: ‘It’s not driven out of cost cuttings or cost savings, and I know a lot of publishers are under a lot of pressure at the moment. The danger is as we get further into the recession and we see downturns in revenues they’ll be pushed into this out of necessity and a lot of them won’t be ready for it because they won’t have thought about it, or be where we are in terms of the online offering.”
The move only resulted in one redundancy, but it looks as though the (non cost-cutting) changes weren’t enough to prepare the publisher for the economic crisis we’re going through now.
Staff learn their fate later today.