Financial News
Mirror Editors Axed In Newspaper Shake-Up
The editors of the Daily Mirror and Sunday Mirror have both been made redundant as the two newspapers merge into one title.
The group said it is moving to a seven-day publishing model - mirroring a move by the Sun, which recently launched the Sun on Sunday following the closure of the News of the World last summer.
In an email to staff, publishers Trinity Mirror said: "Richard Wallace and Tina Weaver will leave the company with immediate effect."
"The decision... is a further step towards creating one of the most technologically advanced and operationally efficient newsrooms in Europe.
Commentators said uniting the two titles into a single news operation would help control costs after revenues were hit by a drop in advertising because of the recession and increasing competition from the internet.
Speaking on Jeff Randall Live, Jack Irvine, who formerly held senior editorial and management positions in Mirror Group and also News International said the company now needs to "invest in journalism, invest in the website and make sure they can be monetised."
He added: "It is the only way forward."
Trinity Mirror said Lloyd Embley, previously editor of Sunday tabloid The People, would take over as editor of the new Mirror title.
The announcement came after Trinity Mirror chief executive Sly Bailey said she would step down from the company later this year after almost a decade at the helm.
Her decision was driven by investor unrest at the slump in the company's share price - echoing the fortunes of the wider newspaper industry.
On Monday, Sir Ian Gibson, Trinity Mirror's chairman, confirmed that he too was stepping down several months earlier than planned and handing the reins to David Grigson, a former Reuters executive.
Mr Wallace replaced Piers Morgan as editor of the Daily Mirror following the newspaper's publication of faked photographs of British soldiers abusing Iraqi troops.
Former Daily Mirror editor and media commentator Roy Greenslade said the sacking of the pair came "as a shock to them and their staff".
Writing in his blog on the Guardian website, he said the decision was "a misguided move" by the outgoing Trinity Mirror chief executive.
He said: "It is extraordinary that she has therefore been allowed by the board - who evidently backed the decision - to fire two editors who dared to speak up for journalism."
The National Union of Journalists condemned the move as "brutal" and "an example of a company in crisis".
NUJ general secretary Michelle Stanistreet said: "It says a lot about the board of Trinity Mirror that they have allowed chief executive Sly Bailey, finally on her way out after presiding over stupendous decline, to push such drastic measures through."
Trinity Mirror said the announcement represented "an important step change in meeting the needs of a multi-media publishing environment".
"The next 12 months will be transformational for our business as we continue to grow our online audience, maximise audience delivery on mobile and launch new e-editions for tablet devices in addition to further developing our newspapers," it said.







