Guardian Media Group to Cut 250 Jobs in Bid to Break Even Within Three Years

Guardian Media Group is planning to cut 250 jobs – including 100 in editorial – and to restructure the less profitable parts of the company in a bid to break even within three years.

As part of plans to cut operating losses, which amounted to £58.6m in the year to the end of March, the Guardian and Observer publisher is to give up its ambitions to turn the Midlands Goods Shed, a former train depot, into a large events space and will restructure the less profitable parts of the business.

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