Tindle Newspapers is to award all staff a bonus in light of the financial success of its community newspapers.
Every full-time employee will receive a minimum lump sum of £125, which will increase according to the profits of each Tindle centre, up to a maximum of £400 a head.
Tindle Newspapers has more than 200 weekly, fortnightly and monthly titles.
Ray Tindle, chairman of Tindle Newspapers, said: “We have been hit by the economic downturn like any other group but most of our local community papers around the country are performing better than the average and providing the profits to keep the others going.
“The papers are surviving but profits have fallen very considerably against pre-recession levels. Eight or nine of our centres are losing money. The group’s profits are currently running at around one-fifth (20%) of 2007 and still falling.
“Despite this, the directors are proud that the organisation is the only newspaper group which has not yet had to turn to redundancy to keep the ship on an even course. No journalist has been asked to leave our employ.”
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