Barclay brothers' cost cuts threaten 100 Telegraph jobs

Posted by Bertrand Pecquerie on June 28, 2004 at 1:47 PM

For Media Bulletin / Brand Republic, "More than 100 jobs could go at the Telegraph Group as the Barclay brothers, whose £665m bid was accepted last week, look to implement the kind of cost savings that have already been seen at The Scotsman. According to a report in the Independent on Sunday, the Barclay brothers will have to make the cost cuts to claw back savings after their bid climbed to almost £700m. A source quoted by the paper said: "They can not justify paying £665m without some major surgery in the medium term. Editorially and commercially, it has to be improved."

Source: Media Bulletin / Brand Republic and the Independent on Sunday.

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