Business: Jameson Media Cuts 1500 UK Jobs

Today the Jameson Media Chief of Finance announced that the struggling media firm would be making 1500 employees redundant in 2009, as part of a shake-up of the workforce due to the economic crisis.

Liam Mayse wrote: Sadly we are here to announce the cutting of jobs from our Northern England offices that will start in 2009. our 2 main offices in Manchester will close down in August, and the Scottish Media department will close in July 2009, due to falling profits and the need to make the workforce more efficient.

Mayse, CoF since the company changed it's brand from Tk-Smith Media in September, also said that more job cuts were likely in 2010, unless the economy and entertainment industry picks up.
It comes just a week after the firm announced quarterly profits down 40%, which sparked rumours that Sim Land would make it's profits public. So far, Sim Land Ltd. has refused to comment on the situation.



Head of Jameson Media USA, Brian Customs, also announced from The States that it was now becoming likely his New York and L.A branches of the company may have to be closed within the next 12 months, stating the weakening dollar/pound currency and the struggling US television market.



An emergency meeting of the European side of the company will be held in Rome on Wednesday, with CEO Thomas Jameson meeting JMEurope head Jose Maruneas for crisis talks over the expected sale of the loss-making Eurozone network, which broadcasts shows in Poland, Romania, France, Spain, Italy and Portugal. Thomas Jameson was quoted saying:

Thomas Jameson wrote:Unfortunately our European branches have made a loss this quarter, so we are hoping to find a buyer by New Year. We are holding talks with several domestic businesses, that are willing to buy their national sections and we are holding negotitions now.

It looks bad for Jameson Media, but will Sim Land reveal their problems?