Seven Percent of RBI Staff to Go Say Reports
Paid Content is reporting that 7% of RBI staff are being laid off. This story is about the US division that includes Variety, but is surely the first signs of a wider cull of costs that will be ipacting on the UK too. Up until last week staff at RBI appeared none the wiser about the nature of the impending cuts but expect news very soon.
The ansswer for RBI is more fundamental than just cutting costs. A new way of publishing magazines must be found and/or a cutting down of the scale of the business to focus on activities and assets that have a good forward growth.