Hundreds of jobs will be axed at Nine Entertainment, including roles in the high-profile TV news division.
Nine Entertainment chief executive Mike Sneesby announced the job cuts to staff on Friday morning as part of a $30 million cost-cutting plan for the business.
‘From our nationwide team of almost 5000 people, around 200 jobs are expected to be affected across Nine including some vacant and casual roles not being filled,’ Mr Sneesby said.
‘In order for us to be able to keep investing in digital growth opportunities across Nine, we must continue to responsibly manage costs through the cycle.’
The job cuts include 38 positions in the high-profile news and current affairs broadcast team, which encompasses 9News and 60 Minutes.
Additionally, 90 jobs will be eliminated from Nine’s publishing division, affecting roles at The Sydney Morning Herald, The Age, and The Australian Financial Review.
Mr Sneesby attributed the job cuts to the likely termination of a commercial deal with Meta, the owner of Facebook and Instagram, as well as a weakened advertising market.
This is a breaking story. More to come.
Today Show host Karl Stefanovic is pictured. Nine has revealed 38 jobs are set to be axed from the news and current affairs team. Daily Mail Australia does not suggest Mr Stefanovic’s role will be cut
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