As Guardian News and Media seeks cuts of £54M, journalists are warned of redundancies.

In an email to staff, the head of HR at Guardian News and Media (GNM) warned that redundancies were a possibility as the company seeks to cut £54M a year from its annual costs.

The email read: "As our staff costs are by far our biggest overhead, one outcome of the budgeting process may be that redundancies are proposed.

"If such proposals are made, and if they affect your area of the organisation, we will consult with the relevant employee representatives about such proposed redundancies, their potential impact and ways of avoiding them."

GNM announced plans to make cuts in January, when it was revealed that The Guardian is set to make a loss of more than £50M for the year to the end of March.

GNM is left with £735M in the bank, which is only enough to keep going for another seven years at the current rate of decline.

The recent announcement of cuts echoes 2013, when The Guardian was set to cut 100 journalism jobs to slow down it's escalating losses.

As of 2015, GNM revealed that it had 968 core editorial staff.