Cost-cutting measures at the NZZ: 29 layoffs
The NZZ needs to cut costs and is laying off 29 of its nearly 550 employees. This amounts to 24 full-time positions. All divisions of the company are affected by these cost-cutting measures. In addition to the employees, readers will also feel the impact of these measures.
The NZZ has to make savings and is laying off 29 of its almost 550 employees. This corresponds to 24 full-time positions, as the newspaper announced in its Wednesday edition. All areas of the company are affected by this cost-cutting measure. However, the NZZ will assume its responsibility and offer appropriate support to all those affected, write CEO Albert P. Stäheli and Head of Journalism Markus Spillmann in an article in the Neue Zürcher Zeitung.
The traditional newspaper also wants to make savings by reducing its network of correspondents in Switzerland and abroad. In some cases, posts will be cut or staff numbers reduced. This will mainly take place in places where there were previously several representations, Stäheli continues.
France, the UK, the Benelux countries, southern Africa and south-eastern Europe are affected. The NZZ did not say which correspondent positions in Switzerland were affected by the cutbacks. According to SDA, those responsible could not be reached on Wednesday due to vacations. The NZZ emphasizes that the claim to adequate coverage of domestic and foreign events in politics, business and culture will in no way be abandoned.
Inserts are merged
In addition to employees, readers will also feel the effects of the cost-cutting measures. In future, the Mobil Digital and Travel and Leisure supplements will be merged and inserted on Fridays instead of Tuesdays and Thursdays as before.
The dossier previously included on Fridays will be discontinued. In future, key topics will be dealt with in the respective departments. The media page will now be part of the domestic section. The political literature supplement will be placed in the Saturday feuilleton and the economic literature in the business section. The NZZ kompakt page, which summarized the most important news of the day, will also be discontinued. The international edition of the NZZ will not undergo any further changes. The NZZ am Sonntag and the magazines Folio, Campus, Z and Fokus will also remain unchanged.
NZZ cites the turmoil on the international financial markets and the sharp economic slowdown as the reason for the cost-cutting measures. Although the company remains solidly financed, NZZ cannot escape the current market developments. Advertising revenues have fallen significantly in the last three months.
The traditional newspaper also wants to make savings by reducing its network of correspondents in Switzerland and abroad. In some cases, posts will be cut or staff numbers reduced. This will mainly take place in places where there were previously several representations, Stäheli continues.
France, the UK, the Benelux countries, southern Africa and south-eastern Europe are affected. The NZZ did not say which correspondent positions in Switzerland were affected by the cutbacks. According to SDA, those responsible could not be reached on Wednesday due to vacations. The NZZ emphasizes that the claim to adequate coverage of domestic and foreign events in politics, business and culture will in no way be abandoned.
Inserts are merged
In addition to employees, readers will also feel the effects of the cost-cutting measures. In future, the Mobil Digital and Travel and Leisure supplements will be merged and inserted on Fridays instead of Tuesdays and Thursdays as before.
The dossier previously included on Fridays will be discontinued. In future, key topics will be dealt with in the respective departments. The media page will now be part of the domestic section. The political literature supplement will be placed in the Saturday feuilleton and the economic literature in the business section. The NZZ kompakt page, which summarized the most important news of the day, will also be discontinued. The international edition of the NZZ will not undergo any further changes. The NZZ am Sonntag and the magazines Folio, Campus, Z and Fokus will also remain unchanged.
NZZ cites the turmoil on the international financial markets and the sharp economic slowdown as the reason for the cost-cutting measures. Although the company remains solidly financed, NZZ cannot escape the current market developments. Advertising revenues have fallen significantly in the last three months.
