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Guardian and Observer newspapers to cut staff as losses soar

By Robert Dex

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.”

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