Fairfax Media (ASX:FXJ) will face Fair Work Australia alongside the Media, Entertainment and Arts Alliance (MEAA) this afternoon, just three days after announcing big company changes that will include a round of staff cuts.
The publisher’s chairman, former Woolworths Chief Executive Roger Corbett, says the company’s revenue base has been slumping since last November, and he’s at a loss to explain the low consumer confidence.
He also says the plan to save $15 million by outsourcing sub-editors will help the company survive.
The MEAA says Fairfax failed to consult with staff and has set unrealistic deadlines.
Fairfax Media reported a profit of $172.939 million in the 2010 financial year.
