Media company ACM says it remains committed to delivering independent quality journalism relevant to regional Australians as it announced a cost reduction program following Meta's withdrawal of support for Aussie news providers.
Employees were briefed on Wednesday on plans for a voluntary redundancy program for ACM's editorial teams.
"Following these proposed changes ACM will still employ more than 340 journalists, making us still the largest employer of regional journalists outside of the ABC," ACM managing director Tony Kendall said.
Outlining the changes for editorial staff, Mr Kendall said the company had to reduce costs following social media giant Meta's cancellation of news funding arrangements in Australia.
"As this funding loss has approached we have taken prudent, but difficult, steps to reshape our portfolio," he said.
"We now have no choice but to lower our staff costs in line with the reduced revenue we are receiving at our core mastheads."
Mr Kendall said he wished the company did not have to take this step.
"We have put it off for as long as possible but, like other media businesses in Australia, we are not immune to the headwinds in the advertising market and in our industry more broadly," he said.
The redundancy program is expected to affect about 35 roles and may include journalist, photographer, production and designer positions.
The program does not affect the company's agricultural titles.
"Along with the loss of Meta funding, we face reduced revenue from display advertising, including from the federal government, classifieds and circulation," Mr Kendall said.
"Inflation is also driving significant cost increases across the board. Production and distribution costs are particularly challenging."
The "carefully considered staff reductions", at titles such as The Canberra Times, Newcastle Herald, Illawarra Mercury and Bendigo Advertiser and other regional mastheads, would support ACM's continued focus on "growing the digital future for our journalism" through subscriptions.
"In this time of enormous change in our industry, as the transition to digital is accelerating, we are confident that our strategy will give ACM a clear pathway to sustainability," Mr Kendall said.
"Aligning our costs with revenue is therefore essential. Almost every part of the company is being affected by this challenge. For editorial, a voluntary redundancy program ... will ensure that we keep the skills and capabilities required for our digital future.
"Following these proposed changes ACM will still employ more than 340 journalists, making us still the largest employer of regional journalists outside of the ABC. ACM remains committed to providing the communities we serve with relevant and independent quality journalism."
Consultation with affected employees and the voluntary redundancy program will be conducted over the coming weeks.
ACM announced on August 28 that it would cease printing eight community newspapers across regional NSW.
This followed the closure of the Blayney Chronicle and Oberon Review newspapers in central-western NSW, the restructure of ACM's daily papers in Orange, Bathurst and Dubbo to digital coverage with a weekend print edition and the closure of Lismore City News.
