Fairfax Media in Consultation on Staffing

Media statement

28 September 2006

Fairfax Media in Consultation on Staffing

In response to the current slowdown in the New Zealand economy, and as part of the continuous focus on future performance, Fairfax Media is about to enter into consultations with staff about future employment levels.

Fairfax Media Chief Executive Joan Withers said today the actual number of positions to be made redundant can only be determined after consultation with staff has concluded, but it may be in the vicinity of 2.5% of the total workforce of approximately 2700.

“The positions affected are likely to be across different geographical locations and departments, and could include management, administration, sales and marketing, editorial and publishing,’’ she said.

Current economic conditions reinforced the need to focus on efficiencies and the future size of the business.

“Print media in New Zealand, as elsewhere in the world, is undergoing major change as it responds to new technologies, and alternative mediums in the form of online and digital communication.

“Many of these changes are being driven by consumer preference.

“Fairfax Media is itself in the forefront of introducing these changes as we continue to invest significantly in the business in the form of new technology, acquisitions and in our digital platforms.

“We remain committed to setting high standards for quality editorial and providing cost effective venues for our advertising clients.”

She said Fairfax Media publications had been operating a tight staff replacement policy for some time as it sought business efficiencies from good management practice.

“These are not easy decisions, but we live in a challenging environment in which we are determined to succeed as a dynamic media company in the 21st century. We will work closely with our staff, and affirm our commitment to our business partners.’’

Staff holding potentially affected positions, and their representatives, will be advised of the steps the company is considering, and will be invited to present their views on the proposed changes.

ENDS

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