Guardian and Observer newspapers to cut staff as losses soar
Journalists at the Guardian and Observer newspapers have been asked to consider taking voluntary redundancy after they reported losses of £40m last year.
Staff were told the two papers and their website, collectively known as Guardian News and Media (GNM), had an operating loss of £44.2m in 2011/12.
The papers, which do not charge online readers, reported a 16.3% rise in digital revenue to £45.7m in 2011/12 and saw their online audience grow 38% to 67.8 million monthly unique browsers from March 2011 to March 2012.
Guardian editor-in-chief Alan Rusbridger said: “Having the foresight to start exploring digital platforms as early as 1999 has given us a great foundation on which to build a secure future for the Guardian.”