Telegraaf Media Groep

Type
Internal restructuring
Country
Netherlands
Region
Location of affected unit(s)
Sector
Information / Communication
Publishing Of Information; Production And Programming Of Audiovisual
Publishing Activities
58 - Publishing activities
350 jobs
Number of planned job losses
Job loss
Announcement Date
7 December 2011
Employment effect (start)
8 December 2011
Foreseen end date
31 December 2016

Description

On 7 December 2011, the second largest media company in the Netherlands Telegraaf Media Groep (TMG) announced that it will cut 350 jobs in the years to come, some 12% of the total number of employees.

It is reported that an earlier restructuring operation resulted in the loss of 600 jobs in 2008, more than initially announced (see here). Background for the new measures are said to be the loss of income from advertising and an expected drop in the number of newspaper sales.

TMG aims to reduce its dependency on printed media from 70% to 50% in 2016. The job cuts are part of a five year strategic plan.

Sources

  • 8 December 2011: Het Financieele Dagblad

Citation

Eurofound (2011), Telegraaf Media Groep, Internal restructuring in Netherlands, factsheet number 72896, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/72896.