Reported 2 days ago
Veteran newspaper executive David Montgomery is planning a takeover of Reach, targeting significant cost cuts that could see over 850 journalists lose their jobs. The proposed £400m initiative, dubbed 'Project Glass', aims to streamline operations by relying more on artificial intelligence and implementing extensive layoffs across editorial, printing, and back-office roles. Montgomery's strategy arises amid declining revenues and challenges in adapting to the digital landscape, with the goal of saving £65m annually and transforming Reach into a digital marketing powerhouse.
Source: YAHOO