Around 150 employees of Seven West Media (SWM) have been made redundant in a major round of redundancies, with three senior managers all leaving the company.
CEO Jeff Howard told staff in an email on Tuesday that costs needed to be cut, especially after Meta opted not to renew its deal to pay for Australian news content.
Meta owns Facebook and Instagram.
“A number of roles within the company will change and unfortunately some people will leave us,” Mr Howard said.
“We will work hard to minimise the impact on people as much as possible, and we will ensure that our people are fully supported.”
Among the changes at SWM are the departures of Chief Revenue Officer Kurt Burnette, Chief Marketing and Audience Officer Melissa Hopkins, and Seven’s Head of Sport and Managing Director of Melbourne, Lewis Martin.
The trio together have dedicated 65 years to SWM, with Mr Howard saying the workplace ‘will be very different without them’.
“I wish them all the best in the future and look forward to our paths crossing again, hopefully at a less challenging time for the industry,” he said.
Mr. Burnette had been with the company for 34 years, while Mr. Lewis had worked for SWM for 30 years.
About 150 Seven West Media employees have been let go in a major round of layoffs, with three senior managers all leaving the company (pictured Jeff Howard, CEO of Seven West Media).
CEO Jeff Howard told staff in an email on Tuesday that costs had to be cut, especially after Meta opted not to renew its deal to pay for Australian news
Among the changes at Seven is the departure of Chief Revenue Officer Kurt Burnette, Chief Marketing and Audience Officer Melissa Hopkins, and Seven’s Head of Sport and Managing Director of Melbourne Lewis Martin.
Ms Hopkins joined the company in March last year after working at Optus.
The layoffs are part of an effort to save the company $100 million, The Sydney Morning Herald reports.
Mr Howard told staff while SWM was doing well in print, digital and TV, ‘our high cost base of $1.2 billion per year is not sustainable and must be reduced’.
“As we look to FY25, we face continued upward pressure on this cost base,” he said.
SWM, which owns The West Australian newspaper, will continue with three divisions: digital, TV and Western Australia.
An operations director will also be appointed for the company, which is led by billionaire Kerry Stokes.
Mr. Howard took on the role of CEO at the end of April.