Independent News to axe 170 jobs

INDEPENDENT Newspapers are to cut 170 staff, who are expected to avail of a €17 million voluntary redundancy package, details of which were formally put to staff yesterday.

The lowest payment to workers is estimated to be between €55,000 and €60,000 with the top-line package amounting to €250,000. The first phase of the plan — which will affect editorial staff across Independent News & Media’s (IN&M’s) three main Dublin-based titles the Irish Independent, the Sunday Independent and the Evening Herald — is due to close in May and will probably see around 34 jobs outsourced by that time.

In a statement yesterday, IN&M said: “Given the generous severance terms on offer, a much higher uptake is anticipated with the final numbers reflecting demand for the package as well as ongoing product requirements.”