BONUSES AND JOB CUTS AT TRINITY MIRROR

That this House condemns the proposed 75 job losses at Trinity Mirror's national newspaper titles, the Daily Mirror, Sunday Mirror and The People; notes that these cuts come at a time when the pay and pensions awards for Trinity Mirror directors last year was 3.9 million; further notes that the Chief Executive of Trinity Mirror, Sly Bailey, received a pay and pensions package of 1.7 million; understands that the share price for Trinity Mirror in February 2012 was 48p compared to 90p 12 months ago; condemns the situation where journalists face losing their jobs whilst senior directors at Trinity Mirror receive large bonuses; further notes that at the 2011 Trinity Mirror AGM, in a break from practice, attending shareholders were not able to vote by a show of hands on the floor of the meeting and that their votes were aggregated withlarge institutional investors; and calls on the Government to look at measures to ensure that shareholders at companies like Trinity Mirror are able to demonstrate their vote in a show of hands over directors' remuneration.