Mumbai, Jul 17 (IANS): Joining a string of publications, Midday -- one of the oldest eveningers of Mumbai -- on Friday announced retrenchment of staff citing ‘losses' in the wake of the Covid-19 pandemic.

In a terse announcement, the management said: "Since March 2020, the Covid-19 pandemic has hit the world badly and most businesses have not been spared the ill effects. We have also faced the similar situation of severe economic losses due to the lockdown since March 25, 2020."

Signed by an authorised signatory, the Head of Human Resources, the statement added that there was a drastic fall in the production of the newspaper as readers as well as advertisements have reduced significantly since the lockdown.

"The readers are not keen on ordering newspaper due to the fear of coronavirus. There is also a shortage of distributors and people supplying newspapers at the readers' door," said the notice issued by the management of the 41-year old tabloid.

Consequently, it said the company had no resources for releasing monthly wages and hence had taken the ‘unpleasant' decision to effect retrenchment as per the law.

Attaching the list of employees whose services would be terminated, the company said that it has also informed the Deputy Labour Commissioner, Thane, of its decision.

Besides Midday, which was launched in 1979, its owners the Jagran Prakashan Ltd -- a listed company -- also runs the venerable Urdu daily, Inquilab (1938), Gujarati Midday (1995) and other prominent media brands.