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Loss of Reader's Digest could affect Island jobs

by isleofman.com 3rd March 2010

There are fears workers in the Island could lose their jobs as a result of the problems facing Reader's Digest.

The British side of the famous title has gone into administration, putting more than 100 UK jobs at risk if a buyer can't be found for the magazine.

It's understood Reader's Digest competition mail is handled in the Isle of Man by Integrated Mailing Solutions, a division of the Post Office.

The contract is understood to be worth about ?3 million over a three year period.

Although the UK arm of the magazine is in administration, it continues to trade.

But its future is in doubt, due to a deficit in its UK pension fund to the tune of around ?125 million.

Isle of Man Post says it won't comment on its arrangements with commercial clients.

In a statement, the Post Office says it is unable to confirm or deny any relationship with the Reader's Digest Association.

It goes onto say it is not in the process of reviewing its staff levels.

Posted by isleofman.com
Wednesday 3rd, March 2010 03:38pm.

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