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NZME axes 200 media jobs

Media company NZME says it is cutting 200 jobs - about 15 percent of its total workforce.

The company which owns the New Zealand Herald and Newstalk ZB as well as regional papers, websites and other radio stations made the announcement a few minutes ago in a release to the New Zealand Stock Exchange.

It says that it expects April 2020 advertising revenues to be approximately 50 percent lower than April 2019, due to the Covid-19 lockdown.