outsource

Fairfax Outsources to Cut Costs


Fairfax Media (FXJ) will outsource sub-editing of its newspapers. Weak advertising markets, currency fluctuations, and unprecedented natural disasters have considerably reduced sales which prompted the company to implement a cost cutting move.

Revenues are down by 4.5 percent, and stocks dropped by 9.2 percent. Revenue for 2010-2011 are expected at $600 million, which is also below most forecasts by analysts.

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