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"Staffers at the Guardian News &amp; Media group in London have reportedly been told that unless the company shifts directions, it will deplete its cash reserves in the next three to five years.\nThe company is expected to report operating losses of more than \u00A330 million for the fiscal year ending March 31, a GNM spokesperson told Press Gazette, rivaling 2009-2010's loss of \u00A334.4 million.\nThe solution, said Guardian Editor in Chief Alan Rusbridger and Andrew Miller, chief executive of parent company GNM, is to double digital revenue \u2014 which totaled \u00A337 million in the year ending March 2010 and is expected to total \u00A347 million for the year ending March 2011 \u2014 in the next five years by making The Guardian a \"digital first\" publication.\n\"[We are] embarking on a major transformation that will see us change from a print-based organization to one that is digital first in philosophy and practice,\" Miller told employees. The transformation will include, in part, investments in new mobile offerings and the opening of a U.S. arm in New York.\n\"Circulation and advertising revenues in print continue to fall throughout the sector as readers and advertisers embrace new technologies and digital platforms, and this is not a trend that\u2019s about to go into reverse,\" he added. (Notably, The Guardian's print circulation was up 3% last year while comparable newspapers saw declines.)\nThe company will continue to extract as much revenue from print as possible, but resources will be shifted away from print toward digital initiatives.\nWhether some of these resources will be shifted out of the company altogether \u2014 in the form of layoffs \u2014 is not yet clear.\nImage courtesy of Flickr, gigijin"^^<http://www.w3.org/2001/XMLSchema#string>
<http://mashable.com/2011/06/16/guardian-digital-first/>