Free Dutch daily De Pers has spent 60 to 70 percent more than its budget allowed, and will axe eight journalists to cut costs, Newspaper Innovation reported Thursday.

Currently, the newspaper has 51 newsroom staffers.

De Pers is also contemplating ending publication of its Saturday edition to further cut costs, according to Newspaper Innovation. De Pers has a circulation of 460,000 copies a day, which are distributed mainly through public transportation systems. The Saturday edition launched in September 2007, and has a lower circulation, as it is delivered to homes and distributed in shopping centres.

Editor-in-chief Ben Rogmans told de Volkskrant he “didn't notice” that the spending had gone over-budget, because he was “occupied with making a good newspaper,” Newspaper Innovation reported.