Bauer Media has reportedly axed 60 staff from the newly integrated Pacific Magazine team.
The cuts come just days after Bauer completed its $40 million acquisition of Seven West Media’s magazine division, which was delayed as the business faced significant cost-saving measures.
According to a report in The Australian newspaper, Bauer cut 60 roles at Pacific and suspended magazines such as InStyle.
The publishing house, like most of the media industry, has been hit by a decline in advertising revenue as businesses pull back during the economic fallout of the coronavirus pandemic.
Bauer has declined to comment.
Last week Bauer announced it was shedding 70 roles and standing down a similar number. It also paused printing of a number of its magazines.
The publisher’s New Zealand operations were also shut early last month due to the severe economic impact of COVID-19.
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