The ongoing move out of print by Fairfax readers and advertisers is behind the decision to axe a quarter of its journalists.

Australian printed newspaper advertising revenue currently sits at $1.23bn annually, significantly down from its peak of $4bn. Newspapers held 22 per cent of Australia’s national advertising spend in 2011, this has dropped by more than 50 per cent to 10.3 per cent in 2016, according to CEASA data.

The sacking of 125 staff will leave Fairfax with 375 journalists, in 2011 Fairfax editorial staff numbered 1,000 people.

Fairfax has been in turmoil since the turn of the century, when it failed to recognise the end of its rivers of gold classifieds sections with the arrival of the internet, and let new operators in jobs, real estate and cars have the field to themselves.

Since then, the change in news consumption to mobile platforms, and out of print, has led to the closure of its showpiece Tullamarine print site – only opened in 2003 – as well as Chullora and the printing of its papers at regional sites.

The strike now underway by journalists includes coverage of next week’s federal budget, although some lawyers believe the strike may be illegal and the staff may be forced back to work.

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