Telegraph cuts 100 jobs to become AI-powered global business

Summarised from 2 outlets · Updated 23 Oct, 18:39 · Archive

The Daily Telegraph has made approximately 100 staff redundant after being bought by German media group Axel Springer in June.

The Daily Telegraph has made about 100 staff redundant as part of a strategic overhaul by its new owners, Axel Springer, the German media giant that bought the newspaper for £575 million in June. Staff were informed on Friday morning in an all-company briefing and email that the title would be transformed from a newspaper into a 'global, AI-powered premium media and intelligence business'.

Carolin Hulshoff Pol, chief executive of Telegraph Media Group, said the paper had been unable to invest and adapt at the required pace during the sale process. She outlined plans to focus on new revenue streams including video, audio, puzzles, events, B2B, licensing and commerce, whilst growing the international audience particularly in foreign affairs, defence and business. The redundancies are part of what the company described as necessary structural changes to create clearer accountability, faster decision-making and greater organisational efficiency.

Insiders reported that some senior staff were informed on Thursday, while others received calls and emails on Friday morning. The culture and sports departments were understood to have been particularly hard hit. According to sources within the newsroom, the atmosphere was described as like 'a morgue'. Axel Springer, which also owns German titles Bild and Die Welt as well as Politico and Business Insider, has said the acquisition will allow it to accelerate the Telegraph's digital transformation and expand into the US market.

How it is being reported

• Telegraph ‘to cut up to 100 jobs’ in plans to become ‘AI-powered media business’It comes after the newspaper was bought by German media giant Axel Springer earlier this summer for £575 millionIndependent Business · 23 Oct, 18:19
• Telegraph cuts 100 jobs as new owner promises to turn paper into ‘AI-powered’ global businessRedundancies come after paper was bought in June by European media group Axel Springer The new owners of the Daily Telegraph have made large numbers of staff redundant, telling them the title will be transformed from a newspaper “into a global, AI-powered premium media and intelligence business”. In an all-company briefing and email on Friday morning, staff were told the title would rely increasingly on technology, data and AI to “reinvent the reader experience”. About 100 people are understood to have lost their jobs. Continue reading...The Guardian · 23 Oct, 13:34

In this story: Daily Telegraph · Axel Springer · Carolin Hulshoff Pol · Mathias Döpfner · Politico · Business Insider

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