Guardian News & Media to cut costs by 20%

Guardian News & Media, the publisher of the Guardian, is to cut running costs by 20% – a little over £50m – in a bid to break even within three years and support future growth.

A faster than expected downturn in print advertising and slower increase in digital revenues, combined with the costs of international expansion, means that the company’s outgoings have outpaced revenues over the past five years.

-- This feed and its contents are the property of The Huffington Post, and use is subject to our terms. It may be used for personal consumption, but may not be distributed on a website.