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Business

Flagship German Newspaper Facing Job Cuts

One of Germany’s flagship newspapers announced Friday it will have to cut jobs in order to survive turbulent times in Germany’s media industry.. The Sueddeutsche Zeitung, in Munich, announced Friday it would eliminate 300 jobs in the coming months. The job cuts should reach 950 by the end of 2004, as the embattled newspaper looks for ways to save money as advertising revenues sink. The newspaper said the moves should bring in an additional 40 million euro by 2004. Sueddeutsche is reportedly expecting losses of up to 30 million this year, but anticipates a turnaround in the coming year.