Total central Office of Information (COI) turnover on advertising and marketing is down an estimated 52% in June this year, compared to the same period in 2009, and, according to the COI the new Government "has made it clear that this reduction in spend should be expected to continue into the future".
As a result staff numbers will be reduced from 737 to 450. Not great news for events companies reliant on central Government contracts.
"COI has always adapted to meet the requirements of government and the changing media landscape. A leaner COI is in line with new government priorities," said COI chief executive Mark Lund.
"Our future will be grounded in continuing to deliver excellent communications to achieve government aims, in the most cost efficient and effective way possible."
A 90-day consultation for those staff involved in the redundancy plan begins today.
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