Margin for error?

If you've ever wondered why your local newspaper needs to trim its staff numbers so regularly there's an article in the latest NUJ magazine (edition not yet online at time of writing) which may fill in some of the blanks. It reports on the 2008 profit margins of some of the country's biggest newspaper groups.

According to The Journalist Trinity Mirror posted a margin of 16.66%, Johnston Press a figure of 24.14% and Gannett UK 30.25%.

The same article reports that Tesco, which recently posted record profits, had an operating profit margin of just 5.5%.

Such media margins are nothing new, but they are thrown into stark relief by today's economic woes.

Some doomsayers believe the massive jobs cull now sweeping through Britain's regionals spells their end. Whether it does or not remains to be seen. But I do find myself wondering whether an industry content to cream off such huge portions and then cry poverty as it lays off workers deserves to survive.