Coronavirus: Mirror and Express publisher Reach to cut 550 jobs

Newspaper publisher Reach is to axe 550 jobs, or 12% of its workforce, in an overhaul designed to cut costs by £35m a year.

The group includes the national Mirror, Express and Daily Star titles as well as Scotland’s Daily Record and regional dailies such as the Liverpool Echo and the Manchester Evening News.

Reach’s announcement came as it reported a 27.5% plunge in quarterly revenue and said it was facing “structural change” in the sector accelerated by the coronavirus pandemic.

Online readership has grown but reduced demand for advertising means this has not been matched by growth in revenues.

Reach said the shake-up would create a “more centralised structure bringing together national and regional teams across print and digital”.

It said the changes would “significantly increase efficiency and remove duplication while maintaining the strong editorial identity of our news brands”.

The cuts will also affect commercial and finance operations, which will see a switch to “fewer locations and a simpler management structure”.

Chief executive Jim Mullen said: “Structural change in the media sector has accelerated during the pandemic and this has resulted in increased adoption of our digital products.

“However, due to reduced advertising demand, we have not seen commensurate increases in digital revenue.

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