“THE Canberra Times” is included in Fairfax Media’s upheaval; with editorial jobs to be cut and the newspaper to move to tabloid format by March, say reports out of Fairfax.
According to Fairfax Media, 20 per cent of the 1900 jobs to be lost will be in editorial, with about 150 to come out of the “metropolitan mastheads unit including ‘The Sydney Morning Herald’, ‘The Age’, ‘ The Canberra Times’ over the next two to three months”.
Reports also said “The Canberra Times” will move to tabloid format by March.
Today’s announcement also revealed “SMH, “The Age” and “The Canberra Times” will change to digital subscriptions towards a “metered” model. The newspapers will also adopt a digital-first editorial model.
As part of the changes, Fairfax Media plan to close metro printing facilities at Chullora, NSW and Tullamarine, Victoria.
On February 23, Fairfax announced that cost savings were expected to reach $170 million of annualised savings for the 2015 financial year. With the cost-saving initiatives, including the closure of Chullora and Tullamarine printing presses, the company is now expected to reach total savings of $235 million on an an annualised basis by June 2015. A total of $215 million is expected to be achieved by June 2014.