XLMedia said it would reduce its headcount as part of a strategy overhaul.

The company did not specify how many jobs would be cut, only saying that the measures were expected to generated more than $5m of annualised savings.

‘In support of executing the group’s new strategy based around quality over quantity, management have now concluded a review of its core functions and associated headcount,’ XL Media said. ‘As a result, management have identified a number of functions and roles which could be streamlined as the business seeks to leverage both automation and outsourcing, whilst also gravitating towards increased editorial.’

The associated savings in 2020 would be offset by investment in product offering and other strategic initiatives, including expanding the company’s US sports and personal finance footprint.

Chief transformation officer Sarah Clark had been appointed chief operational officer, while former Microsoft and Google executive Xen Lategan had been appointed as an interim technology consultant.

As part of the Company’s transformation programme, Sarah Clark, who joined XLMedia in February 2020 as Chief Transformation Officer, has been appointed full-time Chief Operational Officer, focusing on building the strategy function (specifically portfolio management), evolving the shared services model whilst continuing to drive operational efficiencies across the business.

In addition, Xen Lategan has been appointed as an interim technology consultant. Xen is an experienced technology executive, specialising in digital media, publishing and eCommerce having previously held positions at Microsoft and Google. More recently Xen was CTO for News International where he led the roll-out of its new digital teams, platforms and consumer channels. His primary focus has been to support the re-platforming of the de-ranked sites and oversee the re-organisation of the technology group.  

Stuart Simms, Chief Executive Officer of XLMedia, commented: “I joined XLMedia with the clear intention to orientate the Company towards a balanced portfolio of premium branded sites, in verticals and markets that deliver sustainable revenue growth. To support this transformation, we have been working diligently to augment our leadership team and operating structure, as well as to right-size the resources required for our business to operate most efficiently.”

“Our transformation plan continues to gather momentum, and I am pleased to share our progress with all our major stakeholders, alongside welcoming new talent to the business.”