In breaking news as we go to press, Crikey understands that the Fairfax
newspaper organisation is about to wield the knife this afternoon,
removing over 50, and possibly as many as 60, editorial positions.

The
announcement is to be made at 3pm. We understand that the redundancies
will most likely target older journalists and editors, and that around
35 are to be cut in Sydney, with fewer going in Melbourne.

As
Crikey has been predicting for some time, Fairfax has to cut its cost
to maintain its profitability in the face of falling circulations, the
migration of its classified advertising from newspapers to the
internet, and a slowing advertising economy.

And, in the
time-worn tradition of new chief executives, its new boss David Kirk is
likely to inflict pain before gain. Kirk started in his new job last
week.