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Fin24 reports that the Tiso Blackstar Group will be cutting jobs amid financial troubles, according to an internal email sent out by managing director Andrew Gill.
The e-mail indicates that the company has proposed "broad restructuring of its editorial operations as a result of economic headwinds". The e-mail blames "poor performance" in the six months leading to December for a situation that worsened in the first quarter of 2019. Tiso Blackstar is home to publications such as the Sunday Times, Business Day and Financial Mail. Approached for comment, Gill declined to discuss specifics, but confirmed that the group was restructuring. He noted that Tiso Blackstar had announced a planned restructuring of its daily news operations two weeks ago as a result of weak economic conditions and added: "We issued Section 189 (i.e. retrenchment) notices to editorial employees of the Sowetan, Dispatch and Herald, as well as production staff in the Business media stream. Today (Tuesday) we announced the proposed closure of the Sunday World as a result of increasing losses at the title."
- Read the full original of the report on the above story at Fin24
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