One of the world’s largest commercial news publishers, Reach, owner of the far-left Daily Mirror, the right-leaning Daily Express, and over 100 local newspapers, has parted ways with senior staff and cut around 800 jobs within the space of one year.
The Daily Mirror‘s first female editor, Alison Phillips, reportedly left by mutual agreement, following group editor-in-chief, Lloyd Embley, who abruptly left last summer. Phillips was a 26-year veteran of the left-leaning tabloid. The moves fueled concerns that the pre-Christmas job cuts may continue this year, further plunging the group into crisis.
“Everyone is reeling,” one longtime staffer told The Guardian. “Everyone is saying the same thing. We are done. There is no real faith in the direction and support for the title. There is a lot of despondency. I have been here a long time and I have never seen staff morale so low.”
In addition to The Daily Mirror and the Daily Express, Reach owns the Daily Star, the Daily Record, the Manchester Evening News, the Liverpool Echo, and over 100 other local newspapers and websites across the United Kingdom.
Although it is the sixth biggest online operation in the UK after Alphabet, Meta, Amazon, Microsoft, and the BBC — and the UK’s largest newspaper group — Reach’s digital revenues dropped by £21 million (~$26.7 million) in 2023 to just £127.8 million (~$162.6 million). Reach’s market valuation, which was a whopping £1.3 billion (~$1.65 billion) in mid-2021, has plummeted to just £220m (~$280 million) in less than three years.
