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
400 jobs Number of planned job losses
Announcement Date
27 August 2014
Employment effect (start)
27 August 2014
Foreseen end date
31 August 2017
Description
Publishing house Gruner + Jahr is to cut 400 jobs within the next three years. This was announced by the company’s CEO on 27 August 2014 at an employee’s meeting. The job cuts will affect all departments and is due to a decline in demand in the print business. The company wants to reduce costs by €75 million and expand its digital business.
According to the management, the job reduction shall be implemented in a socially acceptable manner. However, operational dismissals are not excluded.
Gruner + Jahr is the second biggest publisher of magazines in Europe and currently employs around 2,400 people. In 2013, the company shut down its subsidiary G+J Wirtschaftsmedien which made 320 jobs redundant (see FS 74547).
Sources
28 August 2014: Die Welt Kompakt
28 August 2014: Handelsblatt
28 August 2014: FAZ
Citation
Eurofound (2014), Gruner + Jahr, Internal restructuring in Germany, factsheet number 77494, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/77494.
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