Le Monde may cut staff
By Leah McBride Mensching, Tuesday 8 April 2008 at 23:53 :: Labor & Employment :: #1509 :: rss
New management at France's Le Monde told staff members Friday that 130 jobs, which includes 25 percent of journalists, may be cut in a plan to keep the paper going after heavy losses, Reuters reported over the weekend.
“To reject it would surely deny us any chance of success and would put the future of the group in danger,” wrote Eric Fottorino, the recently appointed chief executive of the Le Monde Group, and his deputy David Guiraud, in a statement posted on Le Monde's Web site.
Le Monde lost €20 million in 2007, following 2006 losses of €14.3 million. Its debt is at €150 million, Reuters reported.
Fottorino said his goal is for the group to balance its books in 2009 and register a profit the next year, but to do that, Le Monde needs €15 million of structural savings, according to Reuters.
The paper's unions said the group's proposed staff cuts are unacceptable.
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