In a memo sent to staff the company said it has been making “substantial losses” with its current operation.
London’s Evening Standard newspaper is set to scrap its daily editions in favour of a weekly publication.
But in a memo sent to staff the company said it has been making “substantial losses” with its current operation, which has prompted the need for a change of direction. “Therefore, we plan to consult with our staff and external stakeholders to reshape the business, return to profitability and secure the long-term future of the number one news brand in London,” the email read.
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