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
15 August 2013
Employment effect (start)
16 August 2013
Foreseen end date
16 February 2014

Description

Dutch media company Telegraaf Media Groep (TMG) is to cut 350 jobs in the next six months. The recently announced job reduction measure is linked with a cost saving plan of around 50 million euros and is on top of a previously announced restructuring plan in 2011.

According to the sources the constant decline in the advertisement revenue is the main reason for the job cuts.

For information on previous restructurings see TMG-2008, TMG-2006 and TMG-2005.


Sources

  • 15 August 2013: NOS
  • 15 August 2013: TMG (press release)

Citation

Eurofound (2013), Telegraaf Media Groep, Internal restructuring in Netherlands, factsheet number 75776, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75776.