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 58.13 - Publishing of newspapers
150 jobs Number of planned job losses
Announcement Date
22 November 2017
Employment effect (start)
Foreseen end date
31 December 2019
Description
The Dutch publisher TMG (Telegraaf Media Groep), which publishes national and regional newspapers, magazines, and news websites, as well as being involved in radio, has announced the loss of 150 jobs by the end of 2019 due to internal restructuring following its acquisition by the Belgian Mediahuis and decreases in subscriptions and advertisement income. The job losses concern mainly administrative functions, as the acquisition has made many of them redundant. The restructuring further involves abolishing certain regional editions of the newspapers and discontinuation of some of its brands (e.g. websites) in order to concentrate on its main brands, which means some editorial jobs will also be lost.
Management has expressed the hope the job losses will occur through natural attrition. This restructuring follows earlier internal restructuring affecting 75 job losses prior to the acquisition due to cuts at the regional newspapers. TMG is owned jointly by Mediahuis, which publishes major newspapers in Belgium and the Netherlands (besides those published by TMG) and Talpa, the media holding owned by John de Mol, a major Dutch media entrepreneur.
Sources
22 November 2017: fd.nl
22 November 2017: telegraaf.nl
22 November 2017: nrc.nl
22 November 2017: tmg.nl
Citation
Eurofound (2017), TMG, Internal restructuring in Netherlands, factsheet number 92721, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/92721.
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