Seven West Media opens voluntary redundancy program
Seven West Media has kicked off a voluntary redundancy program as the media company struggles with a short advertising market.
According to a report in The Australian, staff were told yesterday about the voluntary program which will focus on the television business.
The job cuts follow on from the media company – which owns the Seven Network, The West Australian, The Sunday Times and has a stake in Yahoo7 – warning underlying earnings for the company would be 15-20% down next year thanks mainly to “increased content costs from the Olympics and AFL”.
