The effects of global financial meltdown are clearly visible on Indian print media now . If the sources are to be believed , more than a dozen English and Hindi dailies have laid more than 1000 employees in northern Indian belt alone. Vernacular print media is the worst hit which has winded up many city editions in the Hindi belt.
Efforts to talk to the HR sections of various print media houses bore no fruits as no boy is ready to speak about the retrenchments and restructuring exercises.
According to sources , Amar Ujala , a leading Hindi Daily has winded up its Punjab editions and has decided to run single edition now. Sources even say the group is also planning restructuring exercise in Himachal Pradesh as well.
Bhaskar Group , accoroding to internal sources , has also postponed its plans to launch Jammu Edition. The group has recently retrenched some senior level journalists in Chandigarh . DNA , Bhaskar Group’s English Daily has also started retrenching editorial staff from Gujarat.
More than a dozen journalists have quit Bilaspur edition of Nai Dunia (Hindi Daily).
According to sources HT Media Group is planning to retrench about 300 employees which is about 15 % of total strength. The company , according to internal sources , will offer a three month advance salary to these employees. Dainik Hindustan , Hindi daily from HT Media Group has already shown doors to more than 8 employees who were part of Dehradun , Uttrakhand edition. The company , according to sources has also asked 18 senior level journalists ( Delhi Edition ) to leave.
The dailies , vernacular in particular , are not only on an employee laying off spree but have also axed the number of pages as a cost cutting exercise. Leading dilies like Dainik Jagaran, Amar Ujala and Dainik Bhaskar have reduced the number of pages and stopped printing weekly pullouts.
The effects of economic slowdown are also clearly visible on magazines .Popular Hindi weekly Outlook has now been made a monthly magazine and the company has shown door to many senior level journalists.
If the sources are to be believed, Metro Now, the compact daily from Metropolitan Media Company, a 50:50 joint venture between The Times of India and HT Media Ltd will soon shed its daily avatar as the publishers have decided to run it as a weekly magazine .