Emap Performance Restructures To Cut Costs
Emap Performance has announced plans to cut a number of jobs across its radio and music magazine business as part of an ongoing strategy designed to cut costs and increase profit margins.
The cuts are expected to affect all departments at Emap Performance including its magazine publishing arm, which houses a range of music titles including Q, Smash Hits, Kerrang! and Mixmag.
There are also expected to be some job loses across radio networks such as Kiss 100, Magic and Big City. However, the cuts will be limited to the Emap Performance division and are not part of a company-wide restructure.
Emap Performance is currently in consultation with staff and has refused to comment on exactly how many people will lose their jobs. However, reports suggest the numbers will be limited to around twenty employees.
The restructure is part of an ongoing initiative to ensure that more decision making power is sitting within local teams. The move will effect divisions in London and the North of England, as well as the company’s marketing arm, which recently announced the impending departure of its marketing director, Malcolm Cox (see Emap Loses Marketing Head In Restructuring Move).
A spokesperson for Emap said: “The restructure is part of our ongoing strategy to continue to deliver stronger profit margins on a tight cost base so that we are in the strongest possible position as and when an acquisition or further investment opportunity comes up.”
The streamlining is being overseen by managing director of radio Dee Ford; finance director Deborah Embley; and Marcus Rich, who is overseeing the digital television, interactive and music magazines business.
The restructure comes just months after the departure of Emap Performance chief executive, Tim Schoonmaker, who is now understood to be planning to team up with venture capital companies to bid for radio groups in the newly deregulated market-place (see Schoonmaker Steps Down As Emap Performance Boss).
Emap: 01733 568 900 www.emap.co.uk
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