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Portugal news wire strikes over cuts

Friday, October 19, 2012 » 04:59am


 
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Staff at Portugal's national news agency Lusa have started a four-day strike over government plans to cut state funding for the company by 30 per cent next year.

The government is locked into a program of spending cuts in return for Portugal's 78 billion euro ($A99.41 billion) bailout last year.

The government intends to reduce the amount it pays under the agency's public service contract to 13.2 million euros in 2013, from 19.1 million euros.

The state owns 50.14 per cent of Lusa, with other Portuguese media companies holding the rest.

State funding represents about 70 per cent of Lusa's revenue.

Lusa reported a net profit last year of 613,000 euros.

Almost 80 per cent of its 291 staff are journalists.

The Lusa news service stopped at 8am (1800 AEDT) on Thursday.

 
 
 
 
 
 
 
 
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