Monday, December 15, 2008

Hong Kong's SCMP cuts staff in restructuring

HONG KONG'S leading English-language newspaper, the South China Morning Post, laid off 30 employees Friday, amid belt tightening by global media companies struggling to weather the global economic downturn.
The layoffs were the result of company restructuring that made some positions redundant, said a spokeswoman who would only give her surname Chan, citing company policy.
It is not immediately clear how many editorial jobs were cut. Chan said the company could not rule out additional layoffs to come.
"Every company is trying to broaden sources of income and cut costs ... layoffs are our last resort," Chan said.
The South China Morning Post (other-otc: SCHPY.PK - news - people ), which has about 900 staff, is one of two English-language dailies in this former British colony.

Source: Associated Press.

No comments: