Ringier comments on cost-cutting rumors

For some time now, rumors have been circulating that Ringier is on a cost-cutting course, as reported by Kleinreport and picked up by the Sonntagszeitung. There is talk of up to 50 million francs that the Group wants to save. Marco Castellaneta, Group spokesman at Ringier, puts these speculations into perspective in an interview with Werbewoche. The media in question had misinterpreted an internally published report from Ringier's intranet and drawn incorrect conclusions from it. It is correct that Ringier declared cost efficiency to be one of five strategic goals two years ago. In economically turbulent times, it is particularly important to make the best possible use of the resources available, but at the same time not to lose sight of the long-term goals, said Castellaneta. "The Group management has therefore decided to review expenditure at all locations" - so that investments can continue to be made in the existing titles, but also in the digital expansion and conversion plans. Any cost-saving measures will be communicated once a decision has been made.