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GMG report reveals £510,000 pay-off for Tim Brooks

Despite financial losses and job cuts, GMG still paid out significant amounts to former MD.

Former Guardian News and Media managing director Tim Brooks left the company with a £510,000 pay-off after his post was made redundant in February last year.

The figure, equivalent to 18 months pay, was revealed in Guardian Media Group's annual report released yesterday. Brooks had been in the job for four and a half years.

The report also revealed that GMG appears to have cut around 200 staff over the last year. In 2010 it was said to have an "average monthly total" of 2,311 staff and in 2011 this average was reduced to 2,113.

Read more at the Press Gazette.