Jobs continued to be cut in the media when a national newspaper group announced it was axing 90 posts, mainly in the editorial departments.
Independent News and Media said a "sizeable number" of the job losses would be voluntary, with savings put at more than £10 million. The company said the cuts at the Independent and Independent on Sunday followed a major review of costs after a downturn in advertising revenue.
"As well as much greater integration between the two papers, a more efficient use of technology will enable the papers to streamline their production processes, thereby saving staff numbers. A major review of our office and other costs has been undertaken, and the company is also investigating the possibility of out-sourcing some areas of operation," the firm said in a statement.
Managing director Simon Kelner said: "As a management team, we would have been irresponsible had we not reacted to the economic conditions affecting every media business in the world by looking at our cost base.
"These changes will be instrumental in helping to secure the future of these great newspapers. Independent News and Media has not wavered in its commitment to preserve the unique qualities of the Independent and The Independent on Sunday and this cost-saving programme will ensure the papers keep their independent voice, while maintaining the quality of their journalism."
Chief executive Ivan Fallon added: "This restructuring will produce a significantly lower cost base, which will allow our titles to weather whatever storms the next few years will bring.
"By taking full advantage of the latest editorial systems, sharing resources across our group, down-sizing our existing premises and looking at out-sourcing some of our activities, we can safeguard the future of the Independent titles.
"This is not just another cost-cutting exercise - it will mark a step-change in using the Independent's unique pool of talent to produce great quality newspapers at the lowest possible cost. We are determined the reader will see no loss of value or quality, and we intend to continue producing award-winning papers for many years yet."
The changes at the two newspapers, which employ a total of 430 staff, will be implemented by early 2009. Barry Fitzpatrick, national officer of the National Union of Journalists, said: "The scale of today's (Tuesday's) announcement will have come as a massive shock to our members at the Independent.
"Journalists' confidence in management at the moment is shaky at best, and far below what we would expect when entering into negotiations over any major restructuring. We need to see clear guarantees that there will be no compulsory redundancies." The union will meet the company for talks on Thursday.
Source: Press Association
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