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The Guardian - UK
The Guardian - UK
Business
Roy Greenslade

Spain's Prisa to cut 2,500 jobs

The debt-ridden Spanish media conglomerate Prisa is to cut 2,500 jobs, some 18% of its staff. The decision will affect 2,000 employees in Spain and 500 in Portugal and the Americas.

Prisa, owner of Spain's leading daily paper, El Pais, said the cuts were part of a restructuring drive made necessary by recent developments in the media market.

Last year, the US investment company Liberty Acquisition Holdings bought a majority stake in Prisa, Spain's biggest media group.

Source: M&G

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