The Independent is to make 27 compulsory redundancies among its staff of 190. Regular casuals will be among those selected to leave. Staff at the paper were told of the job losses, which are being made in order to cut costs, at a meeting at noon.
It is understood that Independent Print Ltd - publishers of the Independent, i and Independent on Sunday - is on course to lose £11.8m this year (after losing £16.6m last time around).
The Independent is also to be revamped substantially by the autumn in order to concentrate on commentary and analysis. It will also feature long-form journalism.
The reduction in the paper's staffing will be offset by the creation of 20 new digital jobs, of which nine will be filled fairly swiftly.
It is possible that some of the journalists who are being made redundant will be able to apply for the digital posts. However, they will need to have online skills.
The company's local TV venture, London Live, will also be taking on staff over the coming year, leading to the creation of some 60 jobs. Its studios will be on the integrated newsroom floor of the Independent and London Evening Standard.
Though the Lebedevs, Alexander, and his son, Evgeny, remain committed to the Independent, it is clear that they cannot go on funding losses while trying to invest in TV and in digital.
They have poured millions of pounds into the company. Losses have been halved over the last two years but the continuing recession and its downward impact on advertising shows no sign of going into reverse. They are facing up to financial reality by imposing cut-backs.
Chris Blackhurst, just promoted from the Indy's editorship to be group content director, said the job losses were "purely about saving money", adding: "We're funded privately and cannot go on sustaining such losses."
People selected for redundancy will be contacted later today in order to avoid speculation about who is, and is not, on the list.
