Struggling Trinity Mirror will not pay bonuses for 2012

Wed, 13/02/2013 - 07:00
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By Giuseppe De Santis-Another story confirms, once again, that financial troubles are far from over for Trinity Mirror.
In fact a few days ago it was reported that the publisher has told staff that no payments will be made under its 2012 bonus scheme and that it plans to cut a further 32 non-editorial staff across its offices in Manchester, Cardiff and Birmingham.

Chief executive Simon Fox said that despite improved trading from Trinity’s nationals division towards the end of last year “our challenging budgets for 2012 will not be met and therefore no payments will be made under the 2012 bonus schemes".

In a memo to staff this week, Fox said the decision “in no way reflects the extraordinary amount of work which has been going on across the business in a very difficult economic environment”, adding that all staff will receive a £100 one-off bonus next month.

However this is the last of many decisions that are affecting the future of Trinity Mirror's employees
In a separate announcement, the company told staff of its proposal for the future of Trinity Mirror Publishing sales ledger and credit control functions, which will see a restructure of its finance department structures across the UK.

The company wants to create three credit control centres and two sales ledger centres. The credit control centres will be in Glasgow, Newcastle and Liverpool with the two sales ledger centres in Liverpool and London.

This move will lead to 32 jobs being put at risk of redundancy.
Also it emerged that Trinity is to introduce a set of five newspaper templates that will be used across its entire regional newspaper portfolio.

That news came a week after the company announced that 92 editorial jobs are to be cut from its regional titles in England and Wales, with a further 52 jobs being created across the national and regional titles.

Those cuts partly reflect the strategy carried on by Trinity Mirror's executives aimed to maximise profits by reducing staff to a bare minimum and squeeze as much as possible from the ones left.

Such a move may yield results in the short term but clearly will negatively affect the quality (already low) of the newspapers published and will increase the chance that some of them will close down in the next few years.

Of course such a development should be welcomed by nationalists as it will help to get rid of a few nasty rags that are poisoning people's minds with their lies and Marxist propaganda.

In the meantime anyone can do his/her bit by boycotting the Daily Mirror, Sunday Mirror, The People and all the other regional papers published by Trinity Mirror so that we can close them down for good, sooner rather than later.

Because together we can.

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