By Des Cryan in Dublin
The Irish Times is to introduce a voluntary redundancy package as
part of a plan to seek cost savings of â‚¬4.5m by the end of the year.
It is aiming to reduce staff numbers by the “financial equivalent” of 35 to 40 employees.
a statement the company said it had to act prudently now when the paper
was performing well editorially and commercially in order to guard
against a repeat of the financial crisis that threatened its viability
three years ago.
As part of its development programme, the Irish Times has launched international editions in London and Spain.
Meanwhile, Independent News and Media has agreed a 15-year printing
deal in Dublin with News International under which it will publish a
range of News International titles via its Belfast Telegraph subsidiary.
The contract is estimated to be worth in excess of â‚¬5m a year.