Restructuring events
European Restructuring Monitor (ERM)
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.
Bonnier Magazines & Brands is reducing its staff by 50. Reductions concern mainly editorial staff. It is the second time this year that the company announces significant staff reductions; previous reductions took place in June and concerned 55 employees.
According to the company, both reductions happened because of the same reason. Bonnier Magazines and Brands has seen a decline in traditional business incomes over a long period. At the same time, its new business strategy and planned new income sources have not taken off as foreseen, which tightens the financial situation significantly.
Employees at the company were informed about the upcoming changes on 8 November. Company CEO said that the news was received negatively by the affected staff members, but that he also felt the staff understood that something needs to be done to keep the company going. Media were not able to get comments from union members.
Eurofound (2018), Bonnier Magazines & Brands, Internal restructuring in Sweden, factsheet number 95802, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/95802.