Michael Padden, Telstra Media’s head of classifieds, said in a statement on Monday:
“With print classifieds usage declining significantly across ad volumes, circulation and readership, it’s unviable to continue producing the weekly print publications.”
“Trading Post and Telstra are well placed to capitalise on changing consumer preferences with Australia’s leading classifieds brand and leading integrated online and mobile digital media businesses.”
Apparently 279 staff will be made redundant at the end of October.
Sad news for the sacked staff, and I cannot underscore that enough. Sad news for the world of print media and classifieds, but perhaps no surprise.