Daily Mirror owner to cut 550 jobs as sales fall

The owner of UK newspapers the Daily Mirror and the Daily Express is to cut 12% of its workforce as it struggles with the impact of the coronavirus pandemic.

It is the latest in a long line of companies to have made cuts during the outbreak, reports BBC.

Reach, which also owns the Daily Star, OK! Magazine and a stable of regional newspapers, said about 550 people would lose their jobs.

The group's sales were falling even before the pandemic but it was also becoming more profitable as it cut costs and attracted more online readers.

That process now appears to be at risk as advertisers have reined in their spending during the pandemic.