Webedia

Type
Internal restructuring
Country
World
Region
Location of affected unit(s)
Brasil, France, Germany, Spain, United States
Sector
Information / Communication
Information Service Activities
Information Service Activities
63.9 - Other information service activities
230 - 240 jobs
Number of planned job losses
Job loss
Announcement Date
1 June 2020
Employment effect (start)
1 June 2020
Foreseen end date
31 December 2020

Description

The online press group Webedia, which owns about fifty Internet sites, has announced a worldwide reorganisation that will lead to cut about 230 to 240 positions. The main job cuts are expected in France where the management has begun negotiations with its employees in order to cut between 80 and 90 positions out of a total of about 600 employees (that is between 10% and 15% of the workforce). The group, which employs 3,700 employees worlwide, has also announced 150 job cuts in Brazil, Spain, Germany, and the United States. Management has explained that it is facing a significant decline in revenues in recent months (-28% in April, -39% in May) due to the Covid-19 crisis.    

Sources

Citation

Eurofound (2020), Webedia, Internal restructuring in World, factsheet number 101106, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101106.