Ashley Armstrong | The Telegraph
Staff at Guardian Media Group are bracing for further job cuts as it looks to slash costs by 20 percent in the face of widening losses.
The left-leaning newspaper publisher announced last month that it wanted to reduce running costs by a fifth after a review of its finances revealed that it could burn through its £758m trust fund in less than a decade.
Katharine Viner, editor, and David Pemsel, chief executive, told staff that the fund had slumped in value by £100m since July after a steep fall in print advertising.
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