The Jewish Chronicle and Jewish News are to close, with all staff made redundant, as their parent company has run out of money due to the coronavirus pandemic devastates.
In 2019, the Jewish Chronicle, first published 1841, received a much-needed burst of new funding from 20 individuals, families and charitable trusts via its owner, the charitable Kessler Foundation.
There are suggestions management is currently in negotiation with the Kessler Foundation to secure further funding, potentially reducing the number of permanent job-losses, although it’s unclear if or when this will materialise.
— Heather Mendick (@helensclegel) April 8, 2020
“Despite the heroic efforts of the editorial and production team at the newspaper, it has become clear that the Jewish Chronicle will not be able to survive the impact of the current coronavirus epidemic in its current form,” the Jewish Chronicle said.
On 7th April Enders Analysis forecast sizeable and enduring damage to all UK media platforms as a result of the pandemic, with as many as a third of British journalists losing their jobs. In particular, news organisations relying on print editions for revenue have suffered, as consumers avoid visiting shops to buy physical copies of their papers, and advertisers slashing budgets.
— Neil Clark (@NeilClark66) April 8, 2020
There are widespread fears news agencies will across the country will close, with some already having furloughed staff and/or cut pay for employees. For instance, Reach, publisher of the Daily Mirror, Daily Express and Daily Star newspapers, announced 6th April it will furlough almost 1,000 workers, and its management, including the senior editorial team, will have their pay slashed by a fifth. The company has also suspended bonuses for 2020, scrapped the dividend and will no longer be publishing financial guidance.