NZZ: Losses despite cost-cutting measures
Despite massive cost-cutting measures, the NZZ posted losses in the first quarter. Parts of its online content will become paywalled, as CEO Albert P. Stäheli said in an interview with the Handelszeitung. In addition, a significant increase in subscription prices is being considered.
The NZZ posted losses in the first quarter despite massive cost-cutting measures. It is considering a significant increase in subscription prices. In an interview with the Handelszeitung, CEO Albert P. Stäheli said that parts of the online offering will be subject to a charge. Until now, readers of the Neue Zürcher Zeitung have paid a subsidized price thanks to high advertising revenues. According to Stäheli, the decline in the advertising market is unprecedented in historical terms, amounting to a good 30 percent compared to the previous year. In order to be able to fully satisfy the high demands of the readership in the future, an above-average price adjustment is being examined.
Following the reduction of 24 jobs last November, a further 6 jobs will be added this year by not replacing retired employees, said the CEO of the NZZ Group in an interview published on Wednesday. No further jobs are expected to be cut in the editorial offices. However, according to Stäheli, a further 20 to 25 jobs will be cut over the next 18 months by merging support areas throughout the NZZ Group.
The NZZ wants to use new strategies to get its Internet offering into the black. At present, expenditure in this area is 3 million francs higher than income. General news on the Internet will remain free of charge. However, financial services, offers on specific economic topics or commentaries by excellent authors, for example, are to become chargeable.
Following the reduction of 24 jobs last November, a further 6 jobs will be added this year by not replacing retired employees, said the CEO of the NZZ Group in an interview published on Wednesday. No further jobs are expected to be cut in the editorial offices. However, according to Stäheli, a further 20 to 25 jobs will be cut over the next 18 months by merging support areas throughout the NZZ Group.
The NZZ wants to use new strategies to get its Internet offering into the black. At present, expenditure in this area is 3 million francs higher than income. General news on the Internet will remain free of charge. However, financial services, offers on specific economic topics or commentaries by excellent authors, for example, are to become chargeable.
