Deirdre Veldon, the group managing director, has told staff at the newspaper that the last few years had been “very challenging” for Irish Times Training due to rapid changes in technology, intense competition and changes in customer behaviour.
“Following an extensive strategic assessment and a review of the business and its future viability, we have made the difficult decision to commence an orderly wind down of Irish Times Training, which will cease trading on November 30,” she said.
Ms Veldon paid tribute to the excellent service which a dedicated team and community of trainers had provided to clients, and noted that since its establishment in 1974, “tens of thousands of individual learners” had done courses in personal or professional development.
According to the announcement, the company is working through a consultation process with the Irish Times Training team, with support bring provided by HR, and the options for staff will include redeployment to other roles in the group, where appropriate.
“We are also fully aware of our commitments to existing learners, clients, the community of trainers and wider stakeholders,” it said. “We will be working to ensure we fulfil our commitments to them and to ensuring current and scheduled courses are fully serviced.”
The decision reflects The Irish Times’ current corporate strategy of concentrating on the core parts of the newspaper business. Last March it sold a 75pc shareholding in Beat 102-103, a youth-oriented radio station based in Waterford, to Bauer Media. Announcing the deal The Irish Times said it was consistent with its strategy to “prioritise and invest in our publishing titles…and to pursue new opportunities to develop our digital offering”.
Last May, The Irish Times bought Rip.ie, a digital death-notice platform, with Ms Veldon saying at the time that the aim was to harness the site’s reach and content “to unlock new opportunities for audience engagement and digital growth”.
According to the Irish Times Training website, among the courses it currently offers are “telephone skills” and “receptionist skills” as well as an MSc in Executive Leadership, which is delivered in partnership with the Ulster University Business School.
In a further indication of how much the professional training sector is under pressure post-pandemic, the Irish Management Institute (IMI) has endured a period of losses, and last year management issued a protective notice to staff. The IMI is currently considering a takeover bid after receiving an “unsolicited, non-binding offer”.
The most recent financial accounts showed that revenue at the IMI fell in 2023 and losses increased. Turnover for the 12 months to the end of September 2023 was €11.4m, down from €12.5m in 2022.
The annual deficit increased to €1.1m from €50,000 a year earlier, and the filed accounts included a warning that its business model faced significant challenges.
As well as The Irish Times newspaper, the publishing company owns the Irish Examiner and the Myhome.ie property website. It retains a 75pc majority stake in WLR, a Waterford radio station, which it originally acquired in 2017 when it bought the media interests of the Landmark group, which included the Irish Examiner.