Johannesburg – The Daily Maverick is retrenching staff to reduce operating costs.
An internal letter written by Daily Maverick CEO Styli Charalambous to staff seen by http://www.thebulrushes.com reads in part: “By now, you may have seen that we’ve begun a process to reduce Daily Maverick’s operating costs by 15%.
“A decision we’ve made only after exhausting every other possibility.”
“And as much as we’ve tried to protect everyone from the harshest outcomes, the reality is, some retrenchments are inevitable.”
The Daily Maverick internal communication dated Thursday, (19 September 2024), said the “market and policies were broken”, and without urgent reform, the sustainability of journalism would continue to elude the publication.
