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'Guardian' Plans To Slash Costs By 20% To Break Even In Three Years

  • Reuters, Wednesday, January 25, 2017 7 AM

The publisher of Britain's Guardian newspaper plans to cut costs by 20% in a bid to break even within three years after its strategy of building one of the most popular websites in the world failed to make up for falling print sales. Guardian Media Group (GMG) said it needed to cut about 50 million pounds ($71 million) from its 268 million pound annual cost base to protect the future of the paper.

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