Nine has put as many as 200 roles on the chopping block, chief executive Mike Sneesby has advised staff in a company wide note sent this morning.

Sneesby said the media conglomerate had not been "immune to the economic headwinds which are impacting many businesses globally", with cuts to be made across Publishing, Digital and Broadcast in an effort to manage costs.

A reduction of between 70 and 90 heads in the publishing division, has been made to offset the loss of revenue from the Meta news deal which expires at the end of this week.

"The advertising market remains very challenging and while the publishing and sales teams are working together on a range of new initiatives our forecast for FY25 is reflective of the market outlook," managing director of publishing Tory Maguire advised staff today. "Meanwhile our costs are going up, particularly in printing and distribution of our newspapers and salaries. It is clear that we need to evolve our operating model and reset the Publishing business to create a sustainable future for the mastheads."

According to Maguire, it is the first time the axe has been taken to editorial headcount since 2017. The redundancies are expected to be rolled out over the coming weeks, with the "path forward" to be communicated to staff in mid-July.

Director of news and current affairs, Fiona Dear, confirmed that 38 roles would be lost from her division, including 12 that were already vacant. "We are also looking to identify potential savings with casual and freelance roles and new technology," she said.

"These are tough decisions and I acknowledge it will be an uncertain period for some of you. It’s important to reiterate that Nine remains in a strong position," said Sneesby. "All of our business units are either completely digital or have rapidly growing digital revenues - and each one maintains a leading position in their respective markets."

It adds to the growing tally of media jobs lost in recent months, coming just two days after Seven confirmed it would be cutting between 100 and 150 jobs to make way for a new operating model. News Corp too announced a significant restructure at the end of May.