The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Information / Communication Publishing Of Information; Production And Programming Of Audiovisual Publishing Activities 58.14 - Publishing of journals and periodicals
240 - 350 jobs Number of planned job losses
Announcement Date
25 January 2007
Employment effect (start)
1 June 2007
Foreseen end date
31 December 2007
Description
French conglomerate Lagardere announced on 25 January 2007 a world strategic plan for its media division. The French group's media decided that 7-10% of the media division's 9,900 jobs in the world would be cut and more than 20 underperforming magazines cease publication.
In France, Lagardère Active Media (LAM) announced a major restructuring, including the closure of loss-making magazines and underperforming foreign operations, and said it will move ambitiously to develop its digital media business. The French group's media arm is dominated by its 259 magazines, which include Elle, Marie Claire, Paris Match and Car and Driver. It also includes the Europe 1 radio station and TV production companies. Between June and December 2007, LAM will cut between 240 and 350 jobs in France. The 3,500 employees in France will have the chance to take voluntary redundancy as of spring.
Sources
27 January 2007: Le Monde
26 January 2007: La Croix
26 January 2007: Les Echos
25 January 2007: AFP
Citation
Eurofound (2007), Lagardère Active Media (LAM), Internal restructuring in France, factsheet number 64842, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/64842.
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