Travel guide publisher Lonely Planet is cutting staff numbers and moving its online division from Melbourne to London, but will keep its Footscray headquarters, Fairfax media reports today.
The report says the move is part of a restructure that will see 60 to 70 jobs go - some 15 per cent of total global staff.
Chief executive Matt Goldberg is quoted as saying: "Lonely Planet is facing a series of financial challenges from external forces beyond our control – a sluggish global economy, the troubled retail sector, a declining print market and, quite significantly, the effects of the strong Australian dollar".
The company blames the strong dollar for revenues losses of $13m in the year to March.
Founded in 1973 by Melburnians Tony and Maureen Wheeler, Lonely Planet is now owned by British broadcaster BBC Worldwide.
Saturday, May 14, 2011
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The Expeditionist
Venturing to the world's special places
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