Fairfax axes workers after merger flop

Ailing Australian publishing heavyweight Fairfax Media has stated that it would lay off over 25% of its report workers in Australia, causing the staff welfare union of the firm’s key papers to embark on an industrial action.
The statement that it is going to shake off over a hundred and twenty-five editor positions in the papers based out in Australia came moments after its New Zealand branch was unsuccessful in a planned merger with a different news outlet in the country. Both outlets had hopes of saving resources and preventing job losses through the deal.
Fairfax, haven experienced declining profits in adverts and distribution is making attempts to reduce expenditure by over twenty-two million dollars. Fairfax also made job cuts from the news office in Australia around 2016 in an early attempt to reduce expenditure.
Responding to the recent action, staff of Sydney Morning Herald along with Melbourne newspaper The Age chose to embark on a week-long industrial action.
Sean Nichollis, a reporter with Herald, has described the lay-offs as myopic and threatening press diversity. Should the Herald and Age be closed, Nichollis stated, the two major Australian cities will only have on running paper apiece, mutually owned by the Rupart Murdoc’s consortium.
“The essential survival of these news outlets is being threatened, talk less of the potential quality of our papers,” Nichollis explained to newsmen. “We recognize that the press in Australia, in similar fashion to anywhere else on the globe, are in an extremely complicated situation. However simply laying off staff over and over isn’t the best approach.”
Fairfax, owners of Fairfax New Zealand, anticipated that a merger with the biggest daily paper will put a complete stop to the constant lay-offs. However on Wednesday, New Zealand’s Commerce Commission discarded the application, stating that the gains of financial cut-backs along with lengthening the existence of several newspaper outlets cannot be more important than the damage on democratic values. The agency stated that the combination of these media companies would lay claim to nearly 90% of the dailies and lion share of webpage visits in New Zealand.
“The union would focus media proprietorship as well as control up to an unparalleled degree for a deep-rooted contemporary free-thinking democratic society,” CC’s boss Mark Berry stated during an announcement. He revealed that the union of these companies would cause a reduction in news value and varieties in opinions. He held that rivalry among newspapers led to improved contents.
Fairfax together with NZME has expressed their disappointment in the agency’s resolution. Fairfax has declared it would have to reduce expenditure as well as strengthen a number of its newspapers, even as The New Zealand news outlet declared that it will consider the alternatives available to it.
Union officers’ standing in for the aggrieved reporters has declared it welcomed the pronouncement. Leading Industrial official Paul Tolich held that union concurs with the decision that a monopoly on information is improper, reiterating that union supports levying a unique levy on corporations similar to Google and Facebook, which accrue a bulk of advertising profits on the web without creating any news contents.