Bauer Media is shedding 70 jobs and temporarily suspending the print publication of some titles as the publisher restructures parts of its business.
The company says 70 Bauer staff will be made redundant and a similar number stood down as advertising revenue falls due to the coronavirus crisis.
Bauer did not name the titles.
The affected brands’ digital assets will continue to operate. The decision to resume print publication will be made once the trading environment improves.
CEO Brendon Hill told staff today: “These are unprecedented times. The COVID-19 crisis and the strict measures being taken to control it are having a profound impact on the Australian economy and any business that operates in it. This has led to a sharp decrease in advertising revenues in Australia over the short term and we have had to reshape our organisation accordingly.”
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