Bloomberg News

Northern & Shell Cuts Costs by 5 Million Pounds, FT Says

March 24, 2012

Northern & Shell Plc, owner of the U.K. Daily Star tabloid, plans to slash costs by 5 million pounds ($7.9 million), the Financial Times reported, without saying how it got the information.

The company may cut about 70 job cuts and senior management held talks with trade unions yesterday, the newspaper said. Northern & Shell currently has nearly 500 employees, according to the FT.

Executives at the media company are also considering whether to keep the Sunday edition of the Daily Star, following the launch of News Corp. (NWSA)’s Sun on Sunday last month, according to the newspaper.

To contact the reporter on this story: Isis Almeida in London at Ialmeida3@bloomberg.net

To contact the editor responsible for this story: Claudia Carpenter at Ccarpenter2@bloomberg.net.


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