There’s definitely been less noise about redundancies in the media industry in 2015, but that’s all about to change - with news that joint digital venture Yahoo!7 is reportedly culling 10 per cent of its workforce.
The redundancy program would affect between 25 and 40 staff, with the Australian Financial Review revealing CEO Ed Harrison has called for a consultation process with staff to begin this week.
The redundancies are a result of a tough advertising market and revamps to the business to be more in line with the mobile, video and native advertising strategy of its 50 per cent owner - US technology company Yahoo! Inc.
"Like any business, we regularly review our operations to ensure we remain agile, nimble and responsive to market conditions. We are unable to provide any further information about said reviews or resultant changes and have nothing further to share," a Yahoo!7 spokesperson told Financial Review.
The last 12 months has seen major departures within the team, including human resources director Fiona Cole, chief technology officer Craig Penfold, communications director Amanda Millar, head of editorial Anne Markey, editor-in-chief Michael Wade, and head of news and sport Cameron Roberts.
