Newspaper fires 65 staff to cut costs

Sixty-five editorial staff at the Tin Tin Daily News will be laid off to cut costs.

Deputy publisher Michael Lee Kin-chung said all employees except 30 executive and 30 marketing staff would be dismissed.

The newspaper would contract out its reporting work to a new satellite company managed by the remaining senior staff.

'The laid off staff will be compensated according to the labour law,' Mr Lee said.

He said it would be up to the new company to decide if it wanted to hire new staff or re-employ the dismissed employees.

The new company will start operating by middle of the month and will be given about $680,000 a month to run the editorial sections. Executive chief editor Luk Wing-ho will be the company's chief supervisor.