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.
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