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.
The Danish media group Jysk Fynske Media are going through a reorganisation for economic reasons, which means that 150 jobs will be cut. This was announced on 23 October 2019 in Fyens Stiftstidende that is one of the main newspapers of the media group. In the first instance 100 employees will lose their job, while 50 new jobs will not be occupied. In addition, wage costs in the media group are frozen.
The group explains that later on there may be room for small pay increases, if the group can replace retired employees with less experienced hires who will demand cheaper compensation. The savings plan is due to Jysk Fynske Media's missing its advertising revenue target. A total of DKK 228 million (EUR 30.4 million ) is to be saved over three years.
Eurofound (2019), Jysk Fynske Medier, Internal restructuring in Denmark, factsheet number 98964, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/98964.