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
500 - 700 jobs Number of planned job losses
Announcement Date
30 October 2013
Employment effect (start)
Foreseen end date
31 December 2015
Description
Sanoma Media Netherlands, part of the Finland-based media group Sanoma, is to cut 500 FTE jobs by the end of 2015.
The company announced its plan in the frame of a new strategic bussiness model oriented towards the new digital media landscape.
The plan envisages initially the merging or selling part of the magazine business in the next 6-12 months (32 magazine titles) and the final closure for the remaining brands that are not profitable anymore. As announced, no closure will take place in 2014.
As reported, the Unions expressed their shock and stressed the need for a social plan for the affected employees.
Sources
31 October 2013: NRC Handelsblad
31 October 2013: Sanoma Media (press release)
Citation
Eurofound (2013), Sanoma Media, Internal restructuring in Netherlands, factsheet number 76106, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76106.
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