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May 8, 2014

‘Necessary evil’? Fairfax cuts despite good results

Fairfax has announced dozens of redundancies to cut costs, but is the company really in bad financial shape?

Paddy Manning

Crikey business editor

For a company with a broken business model, Fairfax Media’s half-year accounts in February showed it was in surprisingly good shape — profitable, with net cash on its balance sheet, arguably undervalued — making the fresh jobs cuts announced yesterday somewhat surprising.

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One thought on “‘Necessary evil’? Fairfax cuts despite good results

  1. bushby jane

    In Tasmania where I live, you have to hunt to find an Age to buy. WHen trying to find out why, I am told by newsagents that it is because they don’t get any given by the distributors to sell. Seems to be a problem that management needs to fix to sell more papers.

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