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
102 jobs Number of planned job losses
Announcement Date
29 January 2009
Employment effect (start)
1 February 2009
Foreseen end date
31 March 2010
Description
On 2nd of February 2009, the publishing group Hjemmet Mortensen, part of the Egmont group, announced the loss of 120 jobs. It has been known since October 2008 that the company planned to cut its costs by up to 160 million NOK, and there have been internal discussions about the measures since then.
The decision to cut the jobs is attributed to falling sales and decline in revenues from advertising. In October, the management announced cost cuts to modernize and increase the company's competitveness. The final measures were announced in meetings with the employees on 2nd of February 2009.
The company offers severance pay, guaranteed salary, support for further education and start-up of business projects, as well as early retirement arrangements, and hopes that these measures will be sufficient. The journalist shop steward told the union magazine Journalisten that the union is not satisfied with the limitation of maximium severance pay (20,5 monthly salaries) and the size of support to those retiring early (50.000 NOK distributed over 5 years).
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
