The Economist is flourishing
The Economist Group will not, as you claim, “sack more than 35% of staff after profits crashed in the year to March.”
In the year to March, our employment numbers did fall by that percentage, but largely because we sold a business, the Journal of Commerce Group in America, which employed a lot of people.
The article stated that turnover was “down £45m or 16%”. This was due again to the treatment of the business we sold or closed. If one just looks at the businesses that are part of the Group now, revenue fell £28m or 12%.
Any readers concerned about The Economist will be pleased to learn that our circulation has risen further from the 833,356 cited in the article, and is now over 860,000 each.
Bill Emmott,
Editor In Chief,
The Economist Group,
25 St James’s Street,
London SW1A 1HC.
Tel 0207830 7000
