The Times prepares for 20 more job cuts after 40 take voluntary redundancy

Staff told they will know within 48 hours if their posts are at risk, as paper seeks to cut 10% from editorial budget

News International's Wapping offices

Forty editorial staff have taken voluntary redundancy at The Times, with the remaining staff waiting to hear where a further 20 compulsory redundancies will be made.

Staff at the paper have been told that they will know within 48 hours if their posts are at risk. There will then be a 30-day review process.

About 10 new staff will also be hired to fill posts vacated by some of those taking voluntary redundancy.

The Times editor, James Harding, recently declared that the paper is making "unsustainable" losses. Losses at the Times and the Sunday Times are in the region of £240,000 a day and the two papers are looking to cut around 80 staff between them to reduce editorial budgets by 10%.

The Times confirmed it had completed its voluntary redundancy process and will be making approximately 20 compulsory redundancies.

Harding said in an email to staff: "We have now completed the voluntary redundancy process. People have come forward, but, I am afraid, not enough to meet our target of a 10% reduction in annual editorial spending. As a result, we are going to have to make further cost savings including compulsory redundancies."

Both News International titles last week launched new websites, which are in a free trial period before a subscription paywall is introduced.

Courtesy : guardian.co.uk