NEC – Nine Entertainment Co. Holdings

Been a while since any news posted on this thread, maybe on death row, who knows.

From the article:
Up to 200 jobs are set to be made redundant at Nine as soon as Friday.

Nine Entertainment CEO Mike Sneesby notified staff of the move, with the first axings to come from the publishing division.

Similarly to Seven’s shake-up earlier this week, Nine attributed the cuts of up to 200 roles from almost 5,000 staff members to “the loss of revenue from the Meta deal and challenges in the advertising market”.

“In order for us to be able to keep investing in digital growth opportunities across Nine, we must continue to responsibly manage costs through the cycle,” Sneesby’s note reads.

It comes after Nine confirmed to Mumbrella on Wednesday that chief information and technology officer, Memo Hayek, was made redundant as the result of a merger between the network’s product engineering and product management teams.

In a separate note to staff seen by Mumbrella, managing director of Nine Publishing, Tory Maguire, said: “It is clear that we need to evolve our operating model and reset the Publishing business to create a sustainable future for the mastheads.

“In light of this the publishing division is going to have to make significant savings in FY25, right across the business.

Up to 90 jobs are expected to be lost from the company’s publishing division, which houses The Age, The Sydney Morning Herald and The Australian Financial Review, and contributes 25 per cent of Nine’s earnings, despite only contributing 21 per cent of revenue, in fiscal 2023.

This masthead reported on Monday that Seven was set to make 150 staff redundant as it deals with one of the softest advertising markets in several decades. News Corp has made as many as 80 staff redundant across its sales division, with some senior executives and editors also having departed. The company is expected to make more cuts across its editorial division in coming weeks.