The Guardian Media Group (GMG) is projected to announce a record operating loss of £68.7m in the year ending March 2016 despite efforts to lighten its workforce by over 250 staff.
GMG, which also owns the Observer, will make the announcement on Wednesday reports the Financial Times.
A full-year operating loss of close to £69m will mark a record for the company despite it cutting 250 staff including 70 journalists who accepted voluntary redundancies.
It looked to offset the damages with the launch of dedicated US and Australian digital editions – which contributed a 167m monthly page views in June.
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Source: The Drum
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