Tuesday, November 11, 2008
Yell plans 1,300 job cuts in £100m costs drive
Yell, publisher of the Yellow Pages, is planning to cut up to 1,300 jobs over the next ten months as it presses ahead with a plan to reduce costs by £100 million by the end of March 2010. The job losses, being pushed through by John Condron, chief executive of Yell, will be felt across all the group's divisions and will include cutting management jobs as well as slimming down the sales forces and reducing administrative positions. It marks the second major cost-cutting drive at Yell in little more than a year. During the 12 months to September, about 1,300 jobs were lost, which will have saved about £150 million during its current financial year. The job losses announced today will generate additional savings and demonstrate a clear deterioration in the economic climate.