Fairfax Media has launched its retrenchment plan, with Fairfax Metro Media editorial director Garry Linnell confirming staff have been invited to sign up for voluntary redundancies over the next month.
Linnell said the voluntary program will officially kick off on Monday 16 July, and will be open for a month-long period.
Compulsory redundancies will take place after this program. “The entire process will take six to nine months.”
Within the Metro Media division specifically, Linnell said the company is looking for 150 voluntary redundancies.
“It’s about de-duplication while needing the local context as well,” said Linnell. “For example, we’d share recipes between papers but not restaurant reviews, because that needs to be local.”
Fairfax has been unwilling to provide exact details about redundancy packages which have been offered to Fairfax staff, however an article this morning in The Australian stated staff at The Age, The Sunday Age, The Sydney Morning Herald, The Sun-Herald, smh.com.au and theage.com.au have been given until 24 August to sign up for voluntary reduandancy.
According to the report, Fairfax staff have been given an information package which has offered them two weeks severance pay, four weeks pay for each year of service as well as leave entitlements.
Last month, Fairfax revealed plans to cut its workforce down by 1,900 employees over the next three years.
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