Euromoney, the Daily Mail and General Trust’s business-to-business financial media group, has asked its staff to take a week’s unpaid leave over Christmas.
The move comes a week after Newsquest, the regional newspaper publisher, also asked staff to take a week’s unpaid leave sometime during the year.
Euromoney plans to close its offices for seven days over Christmas, with all staff paid more than £25,000 not paid for the leave.
According to The Guardian, a day’s pay will be docked every month from June until December.
Staff have also been asked to consider taking up to an additional 10 days’ leave before 31 December at one third of salary, subject to managers’ approval.
The company said the move could limit the number of redundancies.