Sanoma Media

Type
Internal restructuring
Country
Netherlands
Region
Location of affected unit(s)
Sector
Media
58 - Publishing activities
58.1 - Publishing of books, newspapers and other publishing activities, except software publishing
58.13 - Publishing of journals and periodicals
500 - 700 jobs
Number of planned job losses
Job loss
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://apps.eurofound.europa.eu/restructuring-events/detail/76106.