McCall on how GMG will come out of the recession smaller

There has been much debate about Guardian media in recent days.

Talk of closing the Observer was floated over the weekend,this coming on the back of last week's £89m loss.

Paid Content interestingly reports the comments of CEO Carolyn McCall who in an internal memo to staff suggested that the group will come out of the downturn as a slimmed down version of the one that entered it.

“When the economy recovers, so – to a degree – will our advertising revenues. However, due to structural change, these revenues will not be at the levels they were in the past. GNM’s costs will need to reflect this if losses are to be kept within sustainable limits.”