Type
Internal restructuring
Country
Germany
Region
Location of affected unit(s)
Sector
Media
Publishing activities
Publishing of books, newspapers and other publishing activities, except software publishing
58.12 - Publishing of newspapers

300 jobs
Number of planned job losses
Job loss
Announcement Date
18 February 2009
Employment effect (start)
Foreseen end date
31 December 2009

Description

Publishing company Westdeutsche Allgemeine Zeitung (WAZ) announced that it is to merge the publishing of three regional newspapers to save € 32 million in costs. In 2009, 300 out of 900 jobs will be axed at the three regional newspapers affecting journalists and photographers. There will be no direct dismissals, the company says.


Sources

  • 18 February 2009: Financial Times Deutschland
  • 19 February 2009: Financial Times Deutschland

Citation

Eurofound (2009), WAZ, Internal restructuring in Germany, factsheet number 68231, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/68231.