Bauer Media today announced that, due to the impact of COVID-19 in Australia, and the correlated decrease in advertising revenue, it is proposing to temporarily suspend the print publication of certain titles and to restructure parts of the business. The proposal means that 70 Bauer staff will be made redundant and a similar number stood down.
The affected brands’ digital assets will continue to operate. The decision to resume print publication will be made once the trading environment improves.
At a meeting with staff today, Brendon Hill (main photo), Australia CEO, said: “These are unprecedented times. The COVID-19 crisis and the strict measures being taken to control it are having a profound impact on the Australian economy and any business that operates in it.
“This has led to a sharp decrease in advertising revenues in Australia over the short term and we have had to reshape our organisation accordingly,” Hill said.
