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John Fairfax Holdings has announced the latest round of layoffs may be underway shortly after it advised staff at its two Sydney metropolitan newspapers, The Sydney Morning Herald and The Sun-Herald, that the company is initiating discussions with the Media Entertainment and Arts Alliance regarding implementation of a proposed redundancy program for staff at the two papers. The targeted redundancy programme, which in the first instance will be voluntary, is expected to encompass between 35 and 45 editorial employees. As a result, there will be a redundancy provision of $6m-$8m in the accounts for the 2004 financial year, with the company expecting to realise net annualised savings in the cost base in excess of
$4m per year.