50 jobs go at editing firm after losing INM contract

The outsourcing firm that carried out sub-editing and production work for Independent newspapers is closing its Dublin office with the loss of 50 jobs following the loss of a key contract with the media group.

Real-Time Editing and& Design Ltd was& set up in 2007 by former Irish News and Media & executive, Terry Kavanagh, to take over much of the sub-editing and production for a number of newspapers in the INM& stable including the Irish Independent and the Sunday Independent.

That contract has been cancelled as part of a group-wide restructuring at INM&. In an attempt to generate greater savings, journalists at IN&M titles will now be required to comply with new editing workflow practices that will reduce the need for sub-editing.

Real-Time’s Dublin office will now close with the remaining staff moving to its Belfast operations.

The first series ofredundancies will take place in March with the process expected to be completed by next July.

Up to 18 months ago, there were concerns about the viability of IN&M.

Between bank loans and pension obligations, the company was carrying roughly €500m of debt.

However, since Denis O’Brien became the majority shareholder, there has been sweeping changes at Ireland’s largest media group.

A restructuring of the debt has seen this reduced to below €200m.

Other cost-saving initiatives include merging desks between the different titles.

It is believed that further restructuring measures will be unveiled over the course of the next few weeks.