Our sympathies to the people at TheJournal.ie, who are amongst the first in the national media industry to feel the bite of the coming recession/depression. They probably won’t be the last:
Digital publisher Journal Media is to close its business site Fora.ie, scale back its sports website the42.ie and cut staff pay by between 5-20 per cent to offset a fall in advertising revenue due to the coronavirus crisis.
The group includes theJournal.ie, Fora.ie, the42.ie, and a new investigative platform noteworthy.ie. Staff were informed of the cutbacks in a series of meetings on Monday.
Most of the journalists working for its sports news site the42.ie are to be made part-time. The group’s business site Fora.ie is to be closed. Staff who remain working full time are to receive a pay cut of between five and 20 per cent.
It is understood the 20 per cent rate will apply to higher earners in the company.
Communicorp, which is owned by Denis O’Brien and runs Newstalk, and Today FM, amongst other outlets, introduced similar measures this week.
Obviously, at Gript we have a different perspective on the news to that which you’ll find in the Journal, but still, those people work very hard every day to provide a service that many people find valuable. We’re sorry to see this happen, and we wish them well.