‘Business Post’ joins media organisations forced to cut staff pay

Colm O’Reilly, Business Post CEO: "The Business Post remains committed to producing quality journalism and providing the public with the information they need to know during these unprecedented times."

The Business Post publisher has announced pay cuts of between 5% and 15% for staff until June 30 as the company deals with the impact of the Covid-19 crisis.

Staff of the Sunday print newspaper and website were informed of the company’s decision today.

Colm O’Reilly, Business Post CEO said while circulation and digital sales have performed strongly there has a been a drop in advertising revenue, which is similar to that experienced by other outlets across the media sector.

The company also intends to avail of some of the supports put in place by the Government to assist companies during the crisis period.

“At a time of uncertainty trusted news is vital.

"The Business Post remains committed to producing quality journalism and providing the public with the information they need to know during these unprecedented times,” Mr O’Reilly said.

Many media organisations both in Ireland and globally have been impacted by Covid-19 facing significant falls in advertising.

Similar cuts have been imposed in other media organisations in Ireland including Journal Media and Independent News and Media.

Channel 4 in the UK has outlined measures to slash the broadcaster’s 2020 content budget by €171m and find €108m of operational savings along with the furlough of 10% of its staff amounting to approximately 100 workers.

The print and digital editions of the Newry Report have been suspended due to the crisis. The Reporter has been published since 1867.