French News Agency, AFP, plans to cut 125 jobs

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The Chief Executive of French News Agency, Agence France-Presse (AFP), Fabrice Fries, plans to cut 125 jobs, or about 5 per cent of the workforce, the Agency reported On Thursday.
The cuts would be achieved by not replacing 160 staff expected to retire over the next five years, but 35 new positions would also be created, the agency reported.
Some 85 technical and administrative jobs would be shed along with 40 journalist positions.
Management said the move was needed to reverse rising costs, according to the report.
AFP made a net group loss of 5.5 million dollars in 2017, but said that except for a once-off provision of 5.8 million euros it would have been in profit.
Fries, 58, took over as chairman and chief executive in April. (dpa/NAN)

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