Fairfax Media Limited (ASX:FXJ) received a proposal late yesterday by journalist union, Media Entertainment and Arts Alliance (MEAA) to keep production jobs from being outsourced to New Zealand.
Journalists from Fairfax Media conducted a 36-hour strike action last week, over the outsourcing of 66 editorial jobs.
The MEAA proposes that a “sub-hub” based in Newcastle and Wollongong in NSW could be a cost-effective alternative that would retain about a third of the original number of jobs being axed.
Fairfax says, “the talks were constructive and productive” and would consider the proposal over the weekend.
Shares in the media company reached record lows of $0.565 yesterday.
In the first half of the 2012 financial year, Fairfax posted a net profit of $97.6 million.
