(Image: Wikimedia Commons)

The COVID-19 crisis in journalism is making inroads into the businesses of some of the biggest and most secure titles in the global media.

Names such as The Economist, Conde Nast and the Financial Times have been announcing job cuts and pay freezes, and smaller digital players have joined BuzzFeed with cuts of their own -- Quartz and Vice both cut jobs last week.

All up nearly 400 jobs were lost just last week, and a 100 or more sent on leave, possibly never to return if business conditions don’t improve quickly. Hundreds of managers had bonuses and pay cut amid warnings of multi-million dollar revenue gaps.