DC Thomson, the Dundee-based publisher of newspapers, magazines and comics — including The Press and Journal, The Courier, The Sunday Post and The Beano — is to cut 300 of its 1,600 workforce in a bid to shave around £10 million of costs.

DC Thomson CEO Rebecca Miskin told staff the firm would be announcing “the closure of some well-loved titles, as well as the cessation of some commercial activities.”

She said this “will mean losing some valued colleagues, something we deeply regret.”

Around half of the redundancies will come at Colchester-based consumer and B2B magazine publisher Aceville, which DC Thomson acquired in 2018, where all of its print titles will be closed.

A DC Thomson spokesperson said: “We are having to make the difficult decision that 300 colleagues will be made redundant across the UK, with around half coming from the closure of titles acquired from Aceville in Colchester.

“A huge amount of work goes into the creation of our titles and despite being loved, some titles and brands are finding it harder to be profitable.

“By resetting DC Thomson’s media business we can focus on the communities which have potential for sustainable growth.”

A DC Thomson spokesperson added: “As part of the transformation, we are reviewing changes to the structure of our newsrooms to respond to economic pressures and better serve our local communities.

“Roles and responsibilities at all levels within the team are being reviewed.

“It would be inappropriate to comment on individual people at this time.

“The Scottish communities, particularly in the north and north east are core to DC Thomson and we have a number of thriving businesses in the region.”

Miskin elaborated: “We have today announced significant changes to our company, which involve the reshaping of our media portfolio and the simplification of the underlying structure.

“These moves are vital to set us up to thrive in the future and to respond to the difficult economic environment we are in.

“Our goal is to transform into a strong media business, focused on delivering real value to the communities we serve, that can face the future with confidence, and is equipped to thrive long-term in an industry which is changing at an unparalleled pace.

“The transformation strategy already in place was addressing these fundamental industry shifts, but the need to change has been massively accelerated and magnified by the current economic crisis.

“We will focus on specific connected and purpose driven communities which enjoy the biggest potential for deep audience engagement and long-term growth. We are strengthening and building the skills that will be vital deliver this.

“Unfortunately, we have also had to make difficult decisions concerning those brands and activities which sit outside these growth areas.

“We will be announcing the closure of some well-loved titles, as well as the cessation of some commercial activities.

“This will mean losing some valued colleagues, something we deeply regret.”