Staff cutbacks tipped at leading Taiwan daily

<p>TAIPEI: Faced with a steep revenue decline, China Times, one of </p><p>three major dailies, is said to be entering the second phase of a </p><p>restructuring to shed 500 jobs in the next 10 months. </p><p><BR><BR> </p><p>The paper declined comment on the expected cutbacks, which follows its </p><p>retrenchment of 100 journalists in May. </p><p><BR><BR> </p><p>The problem facing China Times - and all Taiwan media - is the drying up </p><p>of advertising dollars as the technology-dependent economy slumps. </p><p><BR><BR> </p><p>Newspapers were among the first to feel the pinch. China Times and </p><p>United Daily News saw advertising revenue drop 8.2 and 5.6 per cent </p><p>respectively last year, while Liberty Times squeaked by with zero </p><p>growth. </p><p><BR><BR> </p><p>Adex figures from Rainmaker Industry show newspapers' ad revenue </p><p>slumping 10.5 per cent to NT$8.1 billion (US$233 million) </p><p>for the first half of the year, against $9.1 billion in 2000. </p><p>Online readership of news has also compounded problems for dailies, with </p><p>research by NFO World Group showing that 37 per cent of the Taiwanese </p><p>public were cutting back on reading newspapers. Despite lower operating </p><p>costs, Taiwan's smaller papers are also reeling from the harsh climate. </p><p>The Formosa Plastics Group, which kept Taiwan Daily News afloat for the </p><p>past five years, has stopped funding it. </p><p><BR><BR> </p><p>PRINT ADSPEND (ntdollars '000) </p><p>2001 Newspapers YOY change (%) </p><p>January 1,168,509 -27.95 </p><p>February 1,151,531 -0.01 </p><p>March 1,533,725 1.42 </p><p>April 1,418,114 -8.71 </p><p>May 1,457,705 -8.56 </p><p>June 1,404,686 -15.36 </p><p>Total 8,134,268 -10.54 </p><p>Source: Rainmaker Industrial Ltd. </p><p><BR><BR> </p>